Stocks climbed around the globe and bonds fell after the Bank of Japan moved to reassure markets in the wake of historic volatility sparked in part by the Asian nation’s unexpected rate hike last week.
BNN Bloomberg's Jon Erlichman looks at how North America n markets are shaping up for the trading day.
Equities extended their rebound as the panic that recently roiled the financial world subsided. The yen slumped after a BOJ official indicated that policymakers won’t raise rates further if markets are unstable. Treasuries slid, and roughly 15 companies looked to sell U.S. investment-grade debt as borrowers take advantage of a primary market that was left wide open after the global turmoil shut the issuance window.
“Investors are making a more sober assessment of the events over the past week or so,” said Fawad Razaqzada at City Index and Forex.com. “That’s not to say we are completely out of the woods just yet. But there’s at least some stabilisation in the markets, which should allow some markets to re-align with the fundamentals.”
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