Oil and gold remain under pressure on
World stocks were enjoying the view at an all-time high on Friday, lifted by a week of strong US economic data and promises from the
European shares were marginally in the red as the dust settled from Thursday's forecast-busting US jobs data and ECB meeting, with investors taking the opportunity to lock in profits after the biggest week of gains since March.
A new three-year peak for Asian stocks overnight meant
"You can't fight the tape, it's as simple as that," said
Yields on lower-rated euro zone bonds continued to fall as analysts combed the details of new long-term loans the ECB has lined up for banks, and after it said on Thursday it stood ready to print money if needed. The ECB will give banks the opportunity to borrow up to 1one trillion euros for four years at a rate of only 0.25 per cent from September in the hope they will lend some of that money to businesses and consumers.
"More liquidity in the system is a boost for bonds," said
Portuguese bonds though, which have underperformed this week due to concerns about an investigation into holding companies of the country's largest bank, saw their yields edge up, with 10-year paper at 3.64 per cent. Stocks in
Oil and safe-haven favourite gold were also under pressure as the unrest in
Brent crude held steady above
"Supply fears are easing somewhat, but
Spot gold was up 0.1 per cent at
It came after US employment growth smashed forecasts and unemployment fell to near a six-year low of 6.1 per cent, effectively dispelling fears about the economy's health after a weather-hit start to the year. — Reuters
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