Financial Markets Daily Report 03 mayo 2021
Volatility edged up amid a bunch of economic releases on Friday. In the euro area, GDP contracted moderately in Q1 (-0.6% qoq) while inflation rose to 1.6% in April (+0.3pp) due to base effects in energy prices. U.S. consumer spending rose +4.2% mom in March as consumers received stimulus checks, and PCE core inflation advanced to 1.8% yoy.
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- Volatility edged up amid a bunch of economic releases on Friday. In the euro area, GDP contracted moderately in Q1 (-0.6% qoq) while inflation rose to 1.6% in April (+0.3pp) due to base effects in energy prices. U.S. consumer spending rose +4.2% mom in March as consumers received stimulus checks, and PCE core inflation advanced to 1.8% yoy.
- Stocks declined across advanced and emerging economies while commodity prices were mixed, and the USD strengthened against most currencies. In fixed-income markets, sovereign yields were little changed in the euro area while U.S. yields barely moved even as Dallas Fed's Kaplan called for beginning the discussion about tapering.
- After a busy week, the economic calendar is lighter this week. The focus will be on the U.S. April labor market report as well as on the release of final sentiment indicators for April in several advanced economies and March industrial production and retail sales.