US equities hit another record high on Tuesday after encouraging data on consumer confidence and new home sales, while sterling fell after the head of the Bank of
The dollar and US Treasuries prices gained, but flagging business morale in
"We remain bullish and are advising our clients to remain overweight on equities, but the levels of valuations and investor sentiment are starting to give us pause in the short term," said
The Dow Jones industrial average was up 23.31 points, or 0.14 per cent, at 16,960.57. The Standard & Poor's 500 Index was up 4.69 points, or 0.24 per cent, at 1,967.30. The Nasdaq Composite Index was up 30.62 points, or 0.70 per cent, at 4,399.30.
US Treasury bonds rose, pushing the 10-year benchmark yield down almost two basis points to 2.60 per cent.
Sterling fell below
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