Global stocks rally as Fed chair signals US rate cut
Global bond yields also benefit but the dollar sags
London — World stocks rose, global bond yields fell and the dollar weakened after Federal Reserve chair Jerome Powell bolstered expectations the Fed would cut US interest rates soon.
The pan-European STOXX 600 climbed 0.2% after losing 1.4% over the past four sessions. Germany’s DAX futures rose and Britain’s FTSE futures gained 0.3%. The oil and gas sector as well as defensive stocks led the gains.