An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange's offices in London, UK. File photo: BLOOMBERG via GETTY IMAGES/LUKE MACGREGOR European stocks were on track for a sixth successive week of gains on Friday and government bond yields globally traded near multi-week lows as investors reacted to positive data and signs central banks may not hike rates as aggressively as feared.
“The correction had affected all major asset classes with the exception of the dollar and hard commodities and it’s now a big reversal of that,” said Olivier Marciot, head of investments, for multi-asset, at Unigestion. The expectation that the peak in rates is approaching were raised earlier in November when US October inflation data came in cooler than expected.
S&P 500 futures are up 0.15%, though trading is likely to be subdued after Thursday’s Thanksgiving holiday.