Risk appetite was also boosted after the Fed pledged to use its ‘full range of tools’ to support the virus-battered economy
People stand in front of an electronic board showing a China stocks advertisement outside a brokerage in Tokyo, Japan. Picture: REUTERS/TORU HANAI
The unchanged policy setting together with a pledge the Fed would use its “full range of tools” if needed boosted risk appetite overnight, with all three Wall Street indexes finishing firmer. “There is no doubt that the Fed’s large presence in markets has provided risk assets with a backstop to stop a tightening in financial conditions,” said Perpetual analyst Matthew Sherwood.
US President Donald Trump said on Wednesday his administration and Democrats in Congress were still “far apart” on a new coronavirus relief bill.
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