📊📊WEEKLY RECAP📊📊
The market is coming off an event-packed week that included the #FED’s May interest rate decision and the US jobs report.
Global equity markets fell after the US central bank rattled investors as it ramped up its fight against inflation.
Treasury securities came under heavy selling following the FOMC, driving rates higher. #Bitcoin prices tumbled, reflecting the sharp evaporation in sentiment for risk assets.
The risk-off sentiment spilled over into the European markets that are already struggling with a dampened backdrop from the Ukraine conflict.
The #Stoxx600 Index dropped 4.55% last week, its worst performance since February.
The British #Pound tanked to a fresh two-year low after the Bank of England signaled a higher risk of recession.
European traders will be closely monitoring the stagflation risks in the coming weeks.
The #ZEW Eurozone economic sentiment survey is due out on May 10. A continuation of the recent drop in sentiment would likely push the sentiment index below its March 2020 to levels not seen since 2012.
The market is coming off an event-packed week that included the #FED’s May interest rate decision and the US jobs report.
Global equity markets fell after the US central bank rattled investors as it ramped up its fight against inflation.
Treasury securities came under heavy selling following the FOMC, driving rates higher. #Bitcoin prices tumbled, reflecting the sharp evaporation in sentiment for risk assets.
The risk-off sentiment spilled over into the European markets that are already struggling with a dampened backdrop from the Ukraine conflict.
The #Stoxx600 Index dropped 4.55% last week, its worst performance since February.
The British #Pound tanked to a fresh two-year low after the Bank of England signaled a higher risk of recession.
European traders will be closely monitoring the stagflation risks in the coming weeks.
The #ZEW Eurozone economic sentiment survey is due out on May 10. A continuation of the recent drop in sentiment would likely push the sentiment index below its March 2020 to levels not seen since 2012.