Stocks cheer prospects for low rates, oil rides pipeline outage higher

TOKYO: Stocks rose on Monday amid speculation that interest rates will remain low due to receding inflationary pressure, while oil and gas prices jumped after a cyber attack on a U.S. pipeline operator unnerved markets.

U.S. nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April, which gave equities a lift but put downward pressure on the dollar and U.S. Treasury yields. On Friday the Dow Jones Industrial Average and the S&P 500 rose to record closing highs after disappointing data on the U.S. jobs market eased concerns about a spike in consumer prices.

MSCI's broadest index of global stock markets hit a record high on expectations that low rates will continue to spur lending and economic growth. The yield on benchmark 10-year Treasury notes steadied at 1.5931per cent in Asia on Monday after having plunged to a two-month low of 1.4690per cent on Friday.

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