REAL-TIME GLOBAL RESEARCH
Daily Financial Markets Monitor
Research evidence excerpt
J P M O R G A N
Global Economic Research
14 August 2026
Daily Financial Markets Monitor
Global stocks were little changed. US shares retreated 0.1%, while those in the
Euro area fell 0.2%. Japanese equities moved up 0.6%. Stocks in emerging
markets were unchanged on net.
The 5-year Treasury yield added 4bp to 4.35%. Meanwhile, both the 10-year
and 30-year yields added 4bp to 4.68% and 5.26%, respectively.
The price of Brent crude oil moved up 1.7% to $88.58/bbl.
The trade-weighted dollar moved down 0.2% today. Meanwhile, the yen was
unchanged and the euro strengthened 0.3%.
Global equities
J.P.Morgan Global Economic Activity Surprise Index
Index
325
Index
40
30
275
20
225
10
0
175
-10
125
-20
75
16
17
18
19
20
21
22
23
24
25
-30
26
16
17
18
Source: J.P. Morgan
Source: Bloomberg Finance L.P., J.P. Morgan
19
20
21
22
23
24
25
26
Government Debt
US Treasury yields
US Treasuries yield curve
Percent per annum; both scales
Yield curves: %.p.a.
5.3
4.8
4.3
3.8
3.3
2.8
2.3
1.8
1.3
0.8
0.3
5.5
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
10-year
2-year
16
17
18
19
20
21
22
23
24
25
26
UK
3.0
3.2
6.0
2.4
5.0
1.6
0.8
Germany
16
4.0
3m
2yr
5yr
10yr
30yr
Percent per annum, over 10-year German bund
Japan
14
5.0
European 10-year sovereign bond yields over 10-year German bunds
Percent per annum; both scales
12
5.0
4.0
3.0
2.0
1.0
0.0
-1.0
-2.0
-3.0
Source: Bloomberg Finance L.P., J.P. Morgan
10-year sovereign debt yields
7
6
5
4
3
2
1
0
-1
t-1y
Current
Bars: 1-day ch; bps
6.0
1m
Source: Bloomberg Finance L.P., J.P. Morgan
t-2y
t-6m
18
20
22
24
Spain
4.0
Italy
3.0
2.0
0.0
1.0
-0.8
0.0
France
12
26
14
16
18
20
22
24
26
Source: Bloomberg Finance L.P., J.P. Morgan
Global Credit and Money Markets
Euro area financials CDS spread
US fixed bank CP/CD minus US generic government 3-month yield
bp
325
bps
150
275
125
225
100
175
75
50
125
25
75
0
25
12
14
16
18
Source: Bloomberg Finance L.P., J.P. Morgan
20
22
24
26
-25
16
17
18
19
20
21
22
23
Source: Bloomberg Finance L.P., J.P. Morgan
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