• In the last session of the week, U.S. stock markets nudged down after European stocks had closed the session with moderate gains.
• In fixed-income markets, U.S. and German sovereign yields were roughly stable and euro area peripheral sovereign spreads edged down.
• In oil markets, the barrel of Brent edged up and closed at $72.6, its highest price since December 2014.
• Moody's raised Spain's sovereign rating by one notch (from Baa2 to Baa1, with a stable outlook). The rating agency emphasized the structural changes that Spain's economy has undergone in the last years to achieve a broader-based and more sustainable growth model. However, the agency also stressed that institutional weaknesses are likely to remain a constraining factor in the near term.
• This week the focus will be on the release of China's Q1 GDP figures.