Mrs. Yellen reinforces stimulus bets and boosts risk appetite on financial markets

Mrs. Yellen could be confirmed as Treasury Secretary as soon as tomorrow, after Mr. Biden officially becomes President of the US today. Her hearing at the Senate yesterday boosted risk appetite on financial markets, as she defended quick and bold action on budgetary policy. That was absolutely unsurprising and the bond market posted almost no reaction. But equity markets started to increase again, oil prices as well, while the USD weakened, as Mrs. Yellen just said it was up to markets to set its value, which was perceived as a tacit approval of its weakening. The EUR/USD is now trading around 1.2150.

Share this news :

You might also read :

July 20, 2021

Global sell-off

European equities had their worst day of the year and US equities plunged the most in two months. Bond yields were sharply down, the US 10y…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?