Equities hit records from the US to Asia
So yesterday was a thrill, now time to get down to business. Jannet Yellen kinda surprised the markets this morning warning against too sharp rate hikes.
Naturally, as economic laws would suggest, the dollar took a hit, albeit small. European government bonds also fell, but at least stocks followed the global rally.
The pound retreated. Investors weren’t really sure what to make of the 2018 budget.
After a shaky start the Stoxx Europe 600 eventually made headway. It followed the MSCI Asia Index, which surpassed its 2007 peak.
Oil heads for it’s highest close in more than 2 years. Data showed US stockpiles declined in the run up to OPEC’s meeting.
Guess it’ll be another good day at the markets…
Indices hit records all over the globe
Ladies and gentlemen – the instinct of a central banker! Jannet Yellen sensed that markets are getting an inertia after that long period of red drought so she decided to open her mouth and get things riled up.
She warned against too sharp rate hikes. As you can expect the dollar took a hit, but that was a boon for stocks. She left the punchbowl intact.
The pound fell, but FTSE 100 made some ground. Investors were uncertain about the 2018 budget.
Stocks Europe 600 eventually ploughed ahead, despite the wobbly start. It trailed MSCI Asia, which bypassed its 2007 peak.
The big shining star is oil. WTI hit its highest close in more than 2 years. Stockpiles fell in the run up to OPEC’s meeting.