Mrs. Yellen reinforces stimulus bets and boosts risk appetite on financial markets
- Macro-economy
- January 20, 2021
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 :
European gas prices rose to new all-time highs on Friday. Although Russian supply continues to flow (even increasing to 267 mm cm/day on average on…
February 16, 2022
Geopolitical risk is diminishing. Inflation is back in the spotlight
The equity markets rebounded sharply, Treasuries (rates up) and the dollar (EUR/USD > 1.1350) fell, and of course energy prices rose. The announcement that some of…
February 22, 2021
Boris Johnson gives the start signal
On the strength of the success of the vaccination campaign in the UK and the effects of containment, Boris Johnson will present today a crisis…
Subscribe to our newsletter