Foreign exchange traders monitor screens in Tokyo, Japan. Picture: GETTY IMAGES/CARL COURT
The MSCI world equity index added 0.1% to 709.71, nearing the all-time closing high of 710.36 set on May 7. A separate report confirmed a 6.4% acceleration in the annualised rate of economic growth last quarter, bolstered by huge fiscal stimulus. “This is a market that’s blown off a little bit of froth over the last three weeks, but there’s nothing that’s occurred to suggest that the bull market in stocks is under any imminent threat,” he said.
This week, multiple Fed officials have come out again to calm those jitters amid growing evidence of price pressures, though they also signalled a possible start to talks to taper stimulus. The dollar hovered near a one-week high vs major peers as traders looked to the upcoming inflation report for direction.