WASHINGTON, Nov 2 ― Global equity markets rose yesterday as investors await clarity from the US Federal Reserve as to whether it will might raise interest rates sooner than they anticipated several months ago, before a sustained bout of inflation. Wall Street advanced to record highs as gains for...
WASHINGTON, Nov 2 ― Global equity markets rose yesterday as investors await clarity from the US Federal Reserve as to whether it will might raise interest rates sooner than they anticipated several months ago, before a sustained bout of inflation.
The euro zone bank sector touched its highest level in more than two years and was the day's best performer as bond yields surged on expectations the European Central Bank will hike rates next year. The Federal Reserve tomorrow is expected to approve plans to scale back its US$120 billion monthly bond-buying program put in place to support the economy, while investors will also be focused on commentary about interest rates and how sustained the recent surge in inflation is.
US Treasury yields were mixed yesterday and German bond yields edged higher but trimmed earlier gains as investors retained their bets for two rate hikes from the ECB next year. Commodities stabilized with a further drop in Chinese coal prices pushing them 50 per cent below last month's record high.
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