- Bond and equity prices rose slightly in most major financial markets, probably reflecting a market view that the interest rate and inflation outlook in the major economies was more favourable than previously thought.
- Issuance and secondary market turnover remained high in bond and equity markets, as did activity in over-the-counter (OTC) and exchange traded derivatives.
- Prospects for Stage 3 of EMU remained a major influence on participants in most markets in the third quarter, and there is evidence of a continuation of convergence-related positioning as well as some convergence of European bond yields.
Published on
01 December 1996
Financial market developments