Fed rates up, stocks up, BoE and ECB up next By Reuters

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*GLOBAL STOCKS SURGE AS FED EASING BETS JUMP ON POWELL'S 'DISINFLATIONARY' COMMENT -

LONDON - The bulls were in charge ahead of the European Central Bank and Bank of England's first meetings of the year on Thursday, after the U.S. Federal Reserve bolstered the view that the surge in global interest rates was close to an end.

The usual pre-meeting lull left the euro up just 0.1% and the pound looking groggy, though the gap between U.S. and German 10-year yields hit its smallest since September 2020 as bond market borrowing costs continued to sink. [GVD/EUR] Away from the central bank action, there was more drama in India as one of its biggest firms, Adani, was forced the axe a long-planned $2.5 billion stock offer in the wake of allegations, denied by the firm, of hidden debt and stock manipulation.

MSCI's broadest index of global shares which covers 47 countries was up 0.25 having just hit a near six-month high.

 

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