LONDON, Oct 5 - European stocks rose on Thursday, after a plunge in oil prices and softer U.S. labour data late on Wednesday helped bring U.S. Treasury yields back down from 16-year highs.
But the bond sell-off paused after a cooler-than-expected U.S. private payrolls report and a 5% drop in oil prices, prompting a recovery in risk appetite.European government bond yields were mixed, with the benchmark 10-year German yield up 2 basis points at 2.921% . The German curve was its least inverted since March.The MSCI world equity index , which tracks shares in 47 countries, was up 0.3%, rebounding from the previous session in which it hit its lowest since late March.
"The question everyone’s asking is: can yields continue to rise further and at what point are yields going to cause some serious damage on the economy?” said Baylee Wakefield, a portfolio manager at Aviva Investors. "There is a risk that the breather in bonds and the dollar correction are too reliant on expectations of a jobs data miss," ING said in a client note.
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