Financial Markets Daily Report05 febrero 2021
Investors continued trading in a risk-on mood yesterday as the vaccination process continues, and, symbolically, the number of people vaccinated across the world reaches the number of COVID-19 cases.
- Investors continued trading in a risk-on mood yesterday as the vaccination process continues, and, symbolically, the number of people vaccinated across the world reaches the number of COVID-19 cases.
- In Europe, Italian leaders Di Maio and Conte indicated that they will not block any technical government headed by Mario Draghi, former president of the ECB, as negotiations to find a government coalition continue. The Eurostoxx50 rose 0.9% while Italian sovereign yields continued to fall (they were down 5bp on Thursday and 18bp on the week).
- In the US, investors are still hoping for further fiscal stimulus and are closely following the ongoing negotiations in Congress. The S&P 500 closed 1.1% higher and the Russel 2000, which is composed of small-cap companies, rose 2% (and is up 11.5% YTD).
- The Bank of England decided on Thursday to leave interest rates and the quantity of asset purchases unchanged.