Financial Markets Update

October 29, 2017

 

  • European government debt has rallied following the ECB’s decision on Thursday October 26th to continue Quantitative Easing (QE) – albeit at a slower pace of EUR 30bn per month rather than the current EUR 60bn.

  • ECB dovishness has put downward pressure on the Euro as investors anticipate lower yields for longer due to the continuation of QE

  • Despite falling Spanish stocks due to Catalonia turmoil, the European Stoxx 600 hits a 5-month high on the back of a weak Euro

  • Yield on 2-year US Treasuries hits highest level since 2008 following strong economic data from the US

  • The price of Brent Crude tops $60 for the first time since 2015 on the back of strong global economic growth and output cuts from OPEC

  • Stronger than expected earnings from the tech sector in America drive the S&P 500 to its 50th record high of the year – with Amazon’s shares rising an astonishing 13% following the news.

  • The pound shows weakness ahead of the BOE’s meeting this week over perceptions of only a gradual tightening of monetary policy

     

     

     

     

     

     

     

     

     

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