Global stocks close in on 4-week highs, oil rises on hopes of 'soft landing'

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World stocks rallied on Monday to their highest levels since mid-December after China reopened its borders while benchmark Treasury yields drifted lower as investors scaled back expectations for further rate hikes by the Federal Reserve.

gained 0.71% after being up as much as 1.5% earlier in the day.

The U.S. dollar index was down around 0.7%, near its lowest in seven months, after it dropped 1.2% on Friday .

 

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