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Archinomics Weekly - Monday 11th October 2021

14 days ago

the
MARKETS

Equities

Stock market sentiment ended the week on a high note, as US Senators averted a potential debt crisis. Markets finished the week higher in the US, Europe and the UK. In Asia, China’s Hang Seng rose, while the Japanese Nikkei 225 was lower. 

Bonds

Long-dated US Treasury yields rose over the week, and prices fell. US corporate bond issuance was strong, although high yield corporate bond prices fell as growth and inflation concerns weighed on the asset class.

Currencies

The US dollar was slightly higher against the euro and weaker against sterling over the week. The euro fell slightly against both sterling and the US dollar.

Commodities

The price of Brent Crude oil continued to rise last week, finishing the week at above $82 per barrel. The price of oil has been pushed higher by the prospect of a global energy crisis.

Responsible investing

136 countries have agreed on a 15% global minimum corporate tax rate, organised by the OECD (Organisation for Economic Cooperation and Development). The aim of the tax is to prevent companies diverting profits to off-shore ‘tax havens’, where rates are lower. 

MACROECONOMIC
UPDATE

The US Senate voted to extend the debt ceiling, avoiding the risk of a default for another two months.


US non farm payroll data came in below forecasts, pointing towards a weaker than expected jobs market. 194,000 new jobs were added against an expected 500,000.


Rising European gas prices were tempered slightly, as President Putin said Russia could step in to help stabilise the market.

on the
RADAR

Minutes from the latest US Federal Reserve meeting will be released, and could give more insight into the central bank’s thinking.


US earnings season will kick off with reporting from a number of financial institutions, including Citigroup and Goldman Sachs.

Listen to our weekly podcast for more information and our experts’ insights.

Architas

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