The ECB accelerates asset purchases and the Ibex marks highs near 8,600 points

"Markets have been seeking clarity from the ECB in recent weeks amid mixed messages, and it appears the central bank has listened. The central bank is now sending a clear signal that PEPP purchases will increase through the second quarter, as we expected, "they point out from Pantheon Macroeconomics.

Investors in European fixed income wondered if the monetary institution would accept a gradual rise in bond yields. "However, President Lagarde has not left any hint of doubt: the ECB remains firmly committed to maintaining favorable financing conditions in the euro zone," highlights Wolfgang Bauer, manager of M & G's fixed income team.

Within the Ibex, which has chained four bullish days and has renewed its annual highs one more day, the increases in Solaria or Siemens Gamesa stand out after a positive advice from Goldman Sachs, which considers the current moment very interesting to bet on renewable energy stocks.

On the other hand, the banking sector trades with average falls of 2%, since there has been a generalized and deep fall in bond yields, which hurts them. The yield on the Spanish 10-year bond has fallen by almost 20% during the day, to 0.28% from 0.34%, following messages from the ECB.

POLITICAL INSTABILITY IN SPAIN

At a time when there are already more than one and more than two international firms that speak of a possible lost summer in Europe and even point directly to the countries of the South, such as Spain, among those that are going to suffer the most, what isn't needed is political instability. The conflict was sparked by the break between Ciudadanos and the Popular Party. More uncertainty for the country that's trying to overcome an unprecedented crisis, and a growing sense that the political class, again, is not up to the task.

Berenberg has published a report in which it expresses its concern about the slow progress of vaccination in our country and also expresses doubts about what will happen with the summer tourist campaign. According to the German firm "if Spain misses the crucial summer tourist season due to insufficient progress in the fight against the pandemic, economic growth could disappoint in 2021."

THE CHAMBER OF REPRESENTATIVES APPROVES AID PACKAGE

The increases in the US, with record highs for the S&P 500 and the Dow Jones, are motivated by the approval, by the House of Representatives, of the package of relief measures by Joe Biden. Now only the signature of the president is missing for it to become law.

"The combination of a very stimulating fiscal policy and a much faster rate of vaccination (the US now expects to have completed the vaccination in May) means that we have become much more bullish on the US economy," acknowledge the experts at Danske Bank. in your daily report.

Otherwise, the coronavirus remains at the center of investor concerns. Today marks a year since the WHO recognized the "pandemic", while the European Medicines Agency approved the Janssen vaccine on Thursday. On the negative side, Norway and Denmark have suspended the AstraZeneca vaccine because it causes thrombi in some recipients.

OTHER MARKETS

In other markets, the euro rises in value 0.3% and trades at 1.1963 dollars. Brent oil rose 1.8% to $ 69.12. In addition, the ounce of gold is now falling slightly, to $ 1,720, and bitcoin is up 0.6%, to $ 56,716.