Financial Markets | daily report 17.05.2022

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Comentário diário | Mercados Financeiros
  • Volatility continued to dominate across financial markets at the start of the week, fueled by mounting concerns about the health of the global economic recovery, after the release of weaker-than-expected monthly economic indicators for April in China on Monday.
  • In Europe, the EU Commission revised down its growth forecasts (eurozone: -1.3pp to 2.7% in 2022 and -0.4pp to 2.3% in 2023; Spain: -1.6pp to 4.0% and -1pp to 3.4%) and lifted its inflation outlook (eurozone: +2.6pp to 6.1% and +1pp to 2.7%) to reflect the economic impact of higher energy costs due to Russia’s invasion of Ukraine.
  • In this context, sovereign bond yields ticked down, stocks were mixed in both sides of the Atlantic while the USD continued to trade below 1.05 against the EUR. Commodity prices also rose modestly.
  • In the calendar today, Christine Lagarde (ECB) and Jerome Powell (Fed) are due to deliver speeches.