Global Stocks Surge As Appetite for Riskier Assets Grows. Treasuries Stabilize

Global Stocks Surge As Appetite for Riskier Assets Grows. Treasuries Stabilize

Global stocks gained on Wednesday as retreat in U.S Treasury yields fueled demand for riskier assets. The MSCI world equity index, which tracks shares in 49 countries, gained 0.4% as the dollar fell on a cautious mood by investors.

  • Euro STOXX 600 was up 0.7%, while Frankfurt shares gained 0.9% to a record high on Wednesday.
  • London’s FTSE added 1.3% ahead of U.K’s new budget with measures to boost the economy.
  • MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.7%, led by shares in China.
  • E-mini S&P futures were up 0.6%
  • Carmakers stocks added 2.6% to reach the highest since June 2018
  • Equity gains came as benchmark U.S. government bond yields continued to stabilize after last month’s sell-off.
  • Investors are betting on a strong economy rebound amid ultra-loose monetary conditions that could fuel inflation.
  • President Joe Biden’s $1.9 trillion spending package is expected to energize the global economic recovery.
  • Investors warn of frothy stock prices, making it hard for equity markets to hang on to gains due to the risk of further sell-off in rates.

Most global stocks are currently gaining. EURO STOXX 50 is up 0.61%, S&P 500 is down 0.81%, FTSE 100 is up 0.99%, Hang Seng Index is up 2.70%

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