Premarket: World stocks near three-month peak, U.S. dollar sags GlobeInvestor
This translation has been automatically generated and has not been verified for accuracy.World stocks were just shy of three-month highs and the U.S. dollar weakened further on Monday as optimism on economies opening up boosted risk appetite, shrugging off worries over riots in the U.S. and unease over Washington’s power struggle with Beijing.
“The Trump rhetoric against China and trade impediments against Hong Kong could have been a lot worse, hence the performance of those markets this morning, which has helped the risk backdrop for the European open,” said Chris Bailey, European strategist at wealth manager Raymond James. An official business survey from China showed its factory activity grew at a slower pace in May but momentum in the services and construction sectors quickened.That helped lift MSCI’s broadest index of Asia-Pacific shares outside Japan 2.1% to its highest since early March. Japan’s Nikkei added 0.7% to also reach a three-month peak.
Bond investors suspect economies will need massive amounts of central bank support long after they reopen and that is keeping yields super low even as governments borrow much more.Yields on U.S. 10-year notes were trading steady at 0.66% having recovered from a blip up to 0.74% last month when the market absorbed a tidal wave of new issuance.In currency markets, the euro continued to lap up gains, the single currency was last up at $1.1131, after climbing 1.8% last week.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opinion: ‘America First’ means America alone – and in a postpandemic world, that would be disastrousGreat Depression-like unemployment might be the end of Trump’s brand of economic nationalism, but that won’t be enough to get us out of the coming crisis. We need strong, credible U.S. leadership again
Read more »
Sports world reacts as protests continue - TSN.caAthletes and notable names from the world of sports are speaking up as protests continue following the death of George Floyd. Follow along here to keep up to date with the latest statements and comments.
Read more »
The future of travel in a post-pandemic world: Health checks, physical distancing and fewer crowdsDestinations left relatively unscathed by COVID-19, such as the Caribbean, Vietnam or Eastern Europe, are expected to be popular as countries loosen lockdowns
Read more »
Sports world comes together with messages of unity as protests intensifyAthletes and notable names from the world of sports, including Michael Jordan, Masai Ujiri and LeBron James, are speaking up as protests continue following the killing of George Floyd earlier this week in Minneapolis:
Read more »
Five things to watch for in the Canadian business world in the coming weekThe Bank of Canada is scheduled to make its latest interest rate announcement on Wednesday. The central bank is widely expected to keep its key rate on hold at 0.25 per cent, however economists will be looking for any comments it has about its outlook for the economy.
Read more »
First pestilence, then war? A new, more aggressive China takes on the world in a pandemicSince COVID-19 disrupted Beijing’s plans for economic strength and global prestige, it has increasingly turned to military force and devastating diplomacy
Read more »