Daily Report

19 de Novembro de 2025
Financial Markets | daily report 19.11.2025
  • The sour mood in equity markets extended for another session amid continued worries about high valuations in the tech sector. Global stock indices fell, with losses led by euro area equities, and accumulated losses of over 3% in a week. The VIX volatility index is up 42% week-over-week and trading above 24 points. Amid risk-averse sentiment, the dollar rose.
  • Risk-off sentiment in euro area equities did not spread to sovereign bond markets, where peripheral risk premia widened by a mere 1bp. In the US, Treasury yields ended lower as investors turned to safer assets and as growing concerns over labour market weakness led to a small rise in the market-implied probability that the Fed will lower interest rates in December.
  • Elsewhere, in commodities, oil prices closed higher (Brent close to $65/barrel) after a choppy session, as investors continued to weigh the impact of sanctions on Russian oil and attacks on its facilities. Today, all eyes will be on Nvidia's 3Q earnings results, which should add clarity on returns AI is bringing to mega cap tech companies.