Financial Markets Daily Report 24 febrero 2021
Markets were volatile during yesterday's session, as US stocks reversed the losses of earlier in the day. The S&P 500 gained 0.1% on the day after being down 1.8% at one point earlier on Tuesday. The tech-heavy Nasdaq Composite was down 3.9% in early trading before reversing part of the losses and ending the day down just 0.5%.
- Markets were volatile during yesterday's session, as US stocks reversed the losses of earlier in the day. The S&P 500 gained 0.1% on the day after being down 1.8% at one point earlier on Tuesday. The tech-heavy Nasdaq Composite was down 3.9% in early trading before reversing part of the losses and ending the day down just 0.5%.
- Fed Chairman Jay Powell said there was "hope for a return to more normal conditions", but also that the Federal Reserve intented to continue its very accomodative monetary policy. 10-year treasury yields were down 3bp.
- In Europe, the Eurostoxx50 was down 0.3% amid a tech selloff as investors worry about the effects of inflation and turn to fixed income as a safer alternative as sovereign bond yields rise. 10-year bond yields rose 5 basis points in Italy, 4 basis points in Spain and 3 in France, and spreads widened.
- Meawhile, oil prices continued their rally as the barrel of Brent rose 0.2% to $65.4.