Commodity prices soar and bond yields settle before Powell’s speech
However, tech stocks and rate-sensitive sectors such as utilities in Europe fell, offsetting stronger travel and commodity stocks
23 February 2021 - 12:36
Milan/Singapore — Optimism about the economic outlook pushed commodity prices to new highs on Tuesday, helping stocks steady as expectations of a dovish testimony by US Federal Reserve chair Jerome Powell calmed down bond yields.
The MSCI world equity benchmark was flat near two week lows by 9.19am GMT, helped by gains in commodity-heavy equity indices in Asia and a rally in European travel stocks on the prospect of easing social restrictions...
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