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TOKYO / NEW YORK – Global stocks are at an all-time high as dollar and US bond yields remained sluggish on Friday on expectations that a split U.S. Congress will also block large government borrowings, which could pave the way for further stimulation of the central bank.
Investors expect Democrat Jn Biden to defeat President Donald Trump and Republicans to retain control of the Senate so they can block Democrat policy, such as raising corporate taxes and spending debt on infrastructure.
“With the prospect of monetary stimulus by a potential gridlock in Washington and Washington, monetary policy will have to take drastic withdrawals, increase risk assets and put pressure on the dollar,” said Hiroshi Watanabe, an economist at Sony Financial Holdings.
Stock futures start close to the race in different BAT telgars.
Biden will be more likely to be president than Trump has a sense of risk, even though there is no quick approach on trade and other issues between traders and Washington and Beijing.
MSCI’s country-country index rose 0.05% in 49 markets around the world, hitting a record high in September.
Global stocks have seen an all-time high as dollar and US bond yields remained sluggish on Friday in the hope that a split US legislature would block large government borrowings, paving the way for central bank stimulus. (Photo
Japan’s Nikkei rose 0.9% on average to a 29-year high, while MSCI’s broad gauge Asian Pacific stock outside Japan rose 0.3% to a 3-year high.
European stocks have seen some of their biggest gains this week, with Euro Stocks 50 futures down 0.8% and FTSE futures down 0.5%.
Hours before the opening bell, the Dow was down 181 points (-0.64%) at 28,116, the Nasdaq was down 139.25 (-1.17%) at 11,937.25 and the S&P was down 27.25 points (3,477.50). . -0.80%).
U.S. bond yields have been flowing lower, with 10-year Treasury yields falling to 0.766%, compared to the U.S. dollar seen on Tuesday. There are more than 150 basis points from the pre-election level. It hit a three-week low of 0.7180% on Thursday.
The Federal Reserve kept its monetary policy loose and the U.S. Promised to do whatever it takes to sustain the economic recovery of.
Oil prices plummet as Europe reconstitutes coronavirus LOCs
Trump’s efforts to pursue lawsuits challenging the election process in many states have so far done little to change investor expectations on the election result.
Trump claimed that even after the election was “stolen” from him, some market players are wary of street protests becoming violent.
With the raging of COVID-19 in the United States and parts of Europe, many investors assume that further financial stimulus is inevitable.
Bank of England on Thursday expanded its asset purchase plan while further stimulus is expected to be announced by the European Central Bank next month.
Investors in the U.S. Also focused on the prospect of stalled negotiations on resuming the coronavirus relief package.
“We still expect a financial package of more than 1 1 trillion next year,” said James Knightley, chief international economist at ING Group in New York.
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“This stimulus, when combined with the long-awaited COVID-19 vaccine, could really boost the economy and lead to growth. We will be very excited about the prospects for 2021 and 2022 as a result. “
In currency markets, lower yields weaken the dollar against its competitors.
The dollar-dollar index touched a two-month low.44..473. And finally stayed at .77..71818.
Euro 18 trades at 1.1810 while sh fashore reached a 2 1/2-year high near the Chinese yuan dollar.
The soft dollar supported the Japanese yen, hitting an eight-month high of 103.43 against the dollar. It was stable at 103.52 yen in early Asian trade.
Gold, which is limited in supply and is seen as a hedge against inflation in the age of ultra-retail monetary and monetary policy, fell slightly to 1, 1,939 per ounce after rising more than 2% overnight.
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Bitcoin also rode, hitting 10% on Thursday and hitting the highest level seen in January 2018.
Oil prices were sluggish as a new lockdown to include coronavirus disease in Europe darkened the outlook for demand for crude. Brent crude was down 1.73% at. 40.22 a barrel.
