Financial Markets Daily Report18 noviembre 2020
As investors weighed positive vaccine developments against rising COVID-19 infections, yesterday markets took a pause after having rallied in the last few days.
- As investors weighed positive vaccine developments against rising COVID-19 infections, yesterday markets took a pause after having rallied in the last few days. In this context, stocks retreated moderately across most advanced and emerging economies.
- U.S. sovereign yields declined as Fed Chair Jerome Powell highlighted the central bank's concern over a second wave of infections and reiterated that the economic recovery still has a long way to go. In Europe, sovereign yields nudged down both in core and peripheral countries, while the GBP strengthened moderately amid ongoing brexit talks.
- On the data front, U.S. industrial production continued to recover in October (+1.2% mom) but remained -5.4% below last year's levels. Also, U.S. retail sales decelerated in October to +0.3% mom and +6.0% yoy (September: 1.6% mom and 7.6% yoy).