Stocks near record highs, Sweden ends negative rates

for the second session despite trade optimism. Australian shares ended 0.3% lower, led lower by mining stocks.

In Sweden, the central bank raised its key rate to zero after five years in negative territory. Economists wondered whether Sweden’s hot-running economy would react badly and whether other sub-zero rate central banks in the euro zone, Japan, Denmark, Switzerland and Hungary would follow suit.“At the end of the day, this market doesn’t look at macro and earnings, it just looks at monetary developments,” said Stéphane Barbier de la Serre, macro strategist at Makor Capital Markets.

Against the euro, it stood at 84.94 pence EURGBP=D3, close to its weakest since Dec. 4. [/FRX] British inflation remained at a three-year low in November, data had showed on Wednesday.Germany’s benchmark 10-year bond yield crept towards the six-month highs it touched last week, with bond traders focussed on the day’s central bank meetings.

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