Record low interest rates, improving economies lend support
World shares were within touching distance of an all-time high on Monday, spurred on by the potent combination of record low global interest rates and the improving health of major economies.
European markets were on the front foot again, looking for their 10th straight week of gains after last week's bumper set of easing measures from the
Asian stocks earlier touched their highest levels in nearly three years, while
"We might be sitting close to all-time highs but valuations are not stretched," Sullivan said. "We got more confirmation last week (from the ECB) that policy is going to remain very loose for a long time."
Trading was thinner than usual due to public holidays in a handful of countries including
Spanish and Italian bond yields , a proxy for what their governments pay to borrow on financial markets, were at all-time lows with Spain enjoying lower yields than
Emerging markets were also performing strongly with stocks on the cusp of a one-year high and a number of key currencies on the rise. The South Korean won touched a near six-year peak, while
Among major currencies, the dollar continued to benefit from rising US Treasury yields, after US jobs data on Friday showed employment back at its pre-recession level. The euro drifted down to
Weekend trade data from
US crude and Brent oil gained 0.3 and 0.2 per cent to
Spot gold was steady near a four-month low at
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