Global stocks soar to record highs on strong economic data

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

'The dollar's past few weeks of movement reflect markets moving ahead,' says an economist. FMTNews Economy

LONDON: World stocks hit record highs on Tuesday, supported by strong economic data from China and the US, while currency and bond markets paused for breath after a month of rapid gains in the dollar and Treasury yields.

“We recommend continuing to position for the reflation trade as the economic recovery gathers pace — data released Friday showed US nonfarm payrolls surged by 916,000 in March, the biggest gain since August.” “Bonds have settled down now,” said Omkar Joshi, portfolio manager at Opal Capital Management in Sydney, after a hard and fast selloff. “I think markets can keep powering on from here.”

“What needs to be tested is how the Fed reinforces and reassures on its flexible average inflation target policy,” said Vishnu Varathan, head economist at Mizuho Bank in Singapore.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines