In China, Japan and South Korea, where Covid-19 is relatively contained, stock indices have lifted to be only about 5%-6% below 2020s peaks
London — World shares hit three-month highs on Wednesday and the dollar fell for the sixth day running as easing lockdowns and hopes for more monetary stimulus gave investors confidence, despite civil unrest in the US and rising Covid-19 tolls.
MSCI's main European Index also held near three-month highs and European bourses opened higher, with the Stoxx 600 up over 1% and back to levels not seen since March 6. A closely-watched survey of service sector activity in China recovered to pre-epidemic levels in May. Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the pandemic will spur demand for fuel.
The euro, which rose above $1.12 for the first time in 11 weeks in early London trading, is on track for a seven-day winning streak against the dollar — its longest streak since December 2013.The US treasury yield curve steepened, partly reflecting the sale of more government debt to finance huge stimulus efforts.
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