#BSIFinancialNews: Sunny skies seem to have returned on financial markets. Global equities gained 2.9% in the week, driven by US (3.4%) and, more broadly, by mature markets. Among emerging markets, stil negative the performance in CEE (-0.7%), burdened by the new slump in oil prices (-3.3%), while gold attempts to find a floor around $1200. On fixed income markets, the rebound in US yields came along with a decrease in EMU and stability in Switzerland, a reflection of the different stances on monetary policies. Same applies to the strengthening in the US dollar against main “mature” currencies but also against emerging ones, Chinese Yuan included. Financial markets are growing increasingly volatile. Russias financial-economic crisis and the caution typically seen towards the year-end dominated the markets, especially in the first half of the week. Equity markets capped their biggest weekly advance since the end of October, after the Federal Reserve pledged patience on rising interest rates, the BNS introduced negative deposit rates and oil market stabilized. In the incoming short week, market’s direction will be dictated by the economic calendar and by performance chasing. This week is scarce of data releases both in US and EMU. Few surveys will be published in the first week of January: in EMU the first estimates of inflation for December while in in the US the ISM surveys. Subscribe now our weekly newsletter and benefit from all the latest financial information! https://bsibank/Weekly-Newsletter-BSI/BSI-Newsletter-Tools/WeeklyNewsletterSubscription.html
Posted on: Tue, 23 Dec 2014 10:11:08 +0000
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