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NEW YORK (Reuters) - World stock markets rose on Monday and benchmark U.S. bond yields slipped from 13-month highs as investors looked to the U.S. central bank’s meeting later in the week.
FILE PHOTO: A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., September 17, 2019. REUTERS/Brendan McDermid
Wall Street’s main indexes rallied in late afternoon trade after the benchmark S&P 500 closed at another record high, while European shares were flat after rising to pre-pandemic levels, with travel shares gaining in both regions.
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The TSX, Dow and S&P 500 all closed at record highs Monday, as an easing in government bond yields generated a friendly environment for taking on more exposure to equity markets.
Investors are awaiting cues from the Federal Reserve this week amid caution over rising borrowing costs spurred by massive fiscal stimulus. The yield on benchmark 10-year Treasuries ticked lower to 1.60%, below its 13-month peak of 1.64% on Friday, and yields on Government of Canada bonds also eased back modestly on Monday.
MILAN World shares inched higher while U.S. bond yields held near a 13-month peak on Monday on bets that economic growth would accelerate, even though…
by Tyler Durden
Monday, Mar 15, 2021 - 07:59 AM
Global shares rose and US equity futures were flat as U.S. bond yields hovered near a 13-month to start the week as bets economic growth will accelerate kept high duration stocks depressed as investors braced for Federal Reserve and other key central bank meetings in the days ahead.
The Dow notched five consecutive record highs last week as approval of one of the largest fiscal stimulus in U.S. history and vaccine rollouts fueled demand for economy-linked stocks such as banks, energy, materials at the cost of tech names with lofty valuations.
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