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Content ID: PR_WCS01_UCM01162670

daily report 20.01.2021

Biden toma posse hoje

Biden toma posse hoje

  • In yesterday's session volatility declined as investors celebrated the speech of Janet Yellen. In her confirmation hearing to become the new US Treasury Secretary, Yellen urged lawmakers to "act big" on the next fiscal package and focus initially on public health and widespread vaccinations. Today Joe Biden takes office as US president.
  • In this context, stock indices rose in the US and in Asia while euro area and Latin America indices declined. In FX markets, the US dollar continued to weaken against most advanced and emerging economies' currencies and the euro fluctuated above $1.21.
  • In fixed-income markets, the Italian risk premium decreased after Giuseppe Conte passed a confidence vote in the Senate with a simple majority (156 votes in favor and 140 against). The current Italian PM will remain in office but will need to obtain 5 more votes in the future in order to reach the absolute majority required to pass certain legislation.