Daily Report

21 de Novembro de 2025
Financial Markets | daily report 21.11.2025
  • Markets opened on a positive note after strong Nvidia earnings results, with a clear risk-on tone in Europe as equities rose and sovereign yields edged higher. But sentiment reversed sharply in the US after the European close, leading to a broad pullback in equities, with an intraday swing of nearly 5% in the Nasdaq, as the VIX hit its highest since April.
  • US Treasury yields fell along the entire curve as investors sought safe assets, while the US dollar was mostly flat against its main counterparts. Bitcoin fell below $90,000 for the first time since April, accumulating YTD losses over 7%. In Japan, government bond yields rose sharply following the approval an expansionary fiscal plan.
  • On the macro side, the US September employment report surprised positively, as the economy added 119,000 new jobs (vs. 51,000 expected). However, the unemployment rate ticked up to 4.4% (4.3% in August), the highest since 2021, as the labor force grew by 470,000 new entrants. The probability of a Fed cut in December sits around 30%.