Financial Markets Daily Report 12 febrero 2021
In yesterday's session, investor sentiment improved on the back of positive corporate earnings releases and the expectation of continuing support from the fiscal and monetary policies.
- In yesterday's session, investor sentiment improved on the back of positive corporate earnings releases and the expectation of continuing support from the fiscal and monetary policies.
- The European Commission released its Winter forecasts, which reflect a weaker economic recovery for the euro area than the one previously projected. The EC assumes a subdued start of the year and an uneven rebound in activity (2021 GDP growth for the euro area, Portugal and Spain is expected to be +3.8%, +4.1% and +5.6%, respectively).
- In this context, most advanced and emerging economies' stock indices rose. In fixed-income markets, euro area sovereign yields edged lower, particularly so in Italy, while the yield on the 10-year U.S. Treasury increased by 4bp.
- In commodity markets, the price of the barrel of Brent decreased (ending a streak of gains) as OPEC warned that oil demand in 2021 will rebound more slowly than previously forecasted.