Financial Markets Daily Report 27 noviembre 2020
Investors continued to trade cautiously in yesterday's session as COVID-19 cases continued rising in Europe and in the US. In this context, demand for safe assets (such as the Japanese Yen or the Swiss Franc) increased on a day in which US markets were closed due to the Thanksgiving holiday.
- Investors continued to trade cautiously in yesterday's session as COVID-19 cases continued rising in Europe and in the US. In this context, demand for safe assets (such as the Japanese Yen or the Swiss Franc) increased on a day in which US markets were closed due to the Thanksgiving holiday.
- In this context, stock indices edged up in Asia and declined in the euro area (with sectors linked to the economic cycle suffering more than the defensive ones). Yields on euro area sovereign bonds edged down, while, in oil markets, the price of the barrel of Brent fell below $48.
- The release of the ECB's October meeting accounts did not shed more light on which instruments will be recalibrated in December. ECB members agreed to consider that more monetary policy accommodation would be needed amid a worsening economic outlook and that PEPP and TLTROs had been key to support the economy so far.