Sumary of Global Markets: Stocks hover near record highs as bond yields slide:
- The MSCI all-country world equity index, a benchmark that tracks shares in 50 countries, set a new intraday high and then hovered slightly in the black..
- “You’ve seen an increasing comfort level with the Fed’s stance that inflation is going to be transitory and as that sinks in, you continue to see large buyers of bonds, which is keeping yields from rising,”.
- Inflation data has alarmed many investors, but for the moment the reaction is stocks are still preferable to bonds in an inflationary environment, said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey..
- “But right now we seem to be at that pre-tipping point where bonds don’t yield enough to scare people out of stocks.”.
- Treasury notes rose 0.3 basis points to 1.4619per cent after earlier declines that positioned the benchmark for its biggest weekly decline in a year..
- Benchmark German 10-year bonds fell 3 basis points to -0.28per cent and were set for their best week of the year….