European stocks inched higher while investors retreated into bonds, with the global coronavirus situation worsening and the vaccine rollout being hampered by safety concerns.
The virus concerns come as the U.S. reached the milestone of having more than half its adult population receiving at least one dose. The European vaccination campaign also is ramping higher after a slow start. “The further decrease in U.S. yields last week shows that the bar for a continued selloff has been raised,” said analysts at Generali Investments, the fund management arm of the Italian insurer. U.S. economic data released last week showed a strong recovery, with retail sales rising nearly 10% in March.
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