Financial Markets Daily Report 31 agosto 2021
Financial markets started the week without major turbulences and still digesting Powell's dovish comments from last week. In this sense, Cleveland Federal Reserve President Loretta Mester said yesterday that the inflation spike will be transitory and that the U.S. labor market is not yet at full employment.
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- Financial markets started the week without major turbulences and still digesting Powell's dovish comments from last week. In this sense, Cleveland Federal Reserve President Loretta Mester said yesterday that the inflation spike will be transitory and that the U.S. labor market is not yet at full employment.
- Meanwhile, in the euro area, the European Commission economic confidence indicator edged down in August from the all-time high registered in July (117.5 vs 119). Separately, France ECB François Villeroy de Galhau said that the ECB should take account of the improvement in financing conditions when assessing the evolution of the PEPP.
- In this context, stock indices posted moderate gains across the board while yields on sovereign bonds edged down in the euro area and in the U.S.
- Today, the focus will be on the euro area August inflation figures (Spain and Germany 3.3% and 3.4%, respectively).