Weekly Market Insight

Latest Economic & Market Update 11th March 2021

11th March 2021

Good afternoon, it is March 11th 2021 and here is your economic and market update from BlackBee. 

Today’s focus:

  • European firm cashing in Irish private rented sector (PRS) investment
  • Core inflation retreats in US

LRC, the European property firm, is selling its portfolio of almost 1,700 rental properties in Dublin, Cork and Galway according to the Irish Times. Eastdil Secured is poised to handle the LRC’s exit from the market and the asking price is reportedly in excess of €1 billion. (Source: The Irish Times)
Inflation fears have stoked the markets in recent weeks but data released yesterday showed that US core inflation dropped in February. Consumer prices as a whole rose 1.7% in February when compared to the same month in 2020. However, when energy and food prices are removed, prices only rose 1.3% when compared to February 2020. Core inflation dropped in February 2021 by 0.1% compared to January 2021. 10 year treasury yields remained all but flat for the day (dropped 1 basis point). Since the start of February and when the inflation fears led to a bond sell off, 10 year treasury yields rose by 0.9%. The S&P 500 was up 0.6% for the day while the Nasdaq Composite dipped slightly by 0.04%. (Source: FT)

Best & Worst Performers of Large Cap US Stocks on Wednesday
Click image to enlarge

Global Market Update
(as at close of markets 10/03/2021)