NEW YORK : A gauge of global stocks climbed for a fifth straight day on Friday, with the two-year U.S. Treasury yield set to decline for the first time in nine quarters as U.S. inflation data fueled hopes the U.S. Federal Reserve may be nearing the end of its rate hiking cycle.
Expectations for a 25 basis point rate hike at its May meeting dipped down to about 50 per cent, with no hike seen to be just as likely. On Wall Street, U.S. stocks were higher, with the S&P 500 set to notch its second straight quarterly gain, thanks in part to its third straight weekly advance this month. The Nasdaq Composite, up nearly 16 per cent in the first-quarter, was set to snap a streak of four straight quarterly declines.
Even with a slight decline for the month, the STOXX index is on pace for a second straight quarterly gain. MSCI's index was poised for a fifth straight session of gains, it's longest streak in two months.