World shares climbed to a six-week high alongside benchmark government bond yiel...
LONDON - World shares climbed to a six-week high alongside benchmark government bond yields on Friday, as markets cheered signs of progress in U.S.-China trade talks and another powerful slug of stimulus from the European Central Bank.
The euro shuffled up to a two-week high in foreign exchange markets too, as traders there suspected the ECB may have now exhausted all ammunition of any worth, though a six-week low for the safe-haven Japanese yen and the pound back above $1.24 for the first time since late July also caught the attention.
U.S., Japanese and European long-dated bond yields were all at six-week highs. Ten-year U.S. Treasuries were offering almost 1.8% compared with just over 1.4% at the start of September, while Germany’s Bunds settled at the new ECB deposit rate of -0.5%. In line with the main world stock indexes, Asian shares ended their week at a six-week high. Japan’s Nikkei did even better and scored a 4-month peak, while Wall Street’s S&P 500 had closed just short of its all-time closing high.
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