Financial Markets Daily Report15 julio 2021
Jerome Powell maintained his view that strong inflation will be temporary and said that the US economy was still far from levels the central bank wanted to see before tapering its monetary support.
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- Jerome Powell maintained his view that strong inflation will be temporary and said that the US economy was still far from levels the central bank wanted to see before tapering its monetary support.
- The S&P 500 and the Dow Jones Industrial Average ticked higher after a choppy session marked by swings between gains and losses as investors balanced concerns about inflation with reassuring comments from Powell. European equities eased from a record high, while investors braced for a flurry of earnings reports over the coming weeks.
- Treasury yields fell and the dollar pared recent gains, while oil prices dropped after the OPEC reached a compromise with the United Arab Emirates over production.
- Today, the focus will be on Mr. Powell’s appearance before the Senate Banking Committee, the weekly initial claims, the industrial production for June in the US and, finally, the BoJ Monetary Policy Meeting.