Growth concerns outweigh inflation fears

The stock markets are back down this morning despite a rebound in the US markets at the end of the week, notably based on hopes for a drug against Covid. The Merk laboratory claims that its anti-covid pill can halve the risk of hospitalisation for patients suffering from the virus.

With Chinese markets closed until Thursday, speculation about the resolution of the Evergrande case is weighing on other markets. Mixed US consumer spending figures (rebound in August but a sharp downward revision in July) are also causing concern, especially as negotiations on the Biden plans and the debt ceiling stall in Congress. The US 10-year yield is back to 1.47%, almost 10bp below the level reached last Tuesday.

EnergyScan economics news

The economic calendar is light today. The main event of the week will be the US job report on Friday. The EUR/USD exchange rate seems to be stabilizing around 1.16.

Share this news :

You might also read :

ES-economy
June 22, 2021

The market in search of certainty

Bond yields have rebounded, equities as well and the USD has lost some ground, the EUR/USD exchange rate returning above 1.19… before falling back below…
ES-gas
February 9, 2021

European gas prices extended gains

European gas prices increased significantly yesterday, still supported by the strong drop in temperatures. The rise in EUA and coal prices (which increased parity prices…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet? 

[booked-calendar]