World stocks steady, but enjoying one of the longest bull runs on record
London — World stocks steadied on Tuesday after their biggest jump in almost six-months on US tax cut hopes had added to what is already one of the strongest and longest global bull runs on record. SA’s rand also took a rest after the ANC leadership win for the market’s preferred candidate triggered its biggest surge since the volatile days of 2008, while the dollar remained a no show despite Wall Street’s latest rally. The US Congress is set to vote later on long awaited tax cuts and reforms and the bill will likely be signed into law by the end of the week. Traders were still being peppered by upbeat data, too. The World Bank raised its China growth forecast for the year, Switzerland pushed up its growth forecast for 2018, and business confidence remained robust in Germany. Britain’s FTSE 100 and Germany’s DAX 30 both edged 0.1% to 0.2% higher, and though France’s CAC 40 wobbled, bond yields edged up, and the euro and the pound made some ground in the forex market. "The dollar is ...
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