The British pound is up more than 6% from recent multiyear lows, while a
rebound in China's yuan has lifted a broad range of currencies. Emerging-market
equities have also bounced back from a steep selloff earlier in the year, and a
rise in oil is leading a rally in commodities that has buoyed everything from
copper to coffee.
Driving the gains are signs of better-than-expected outcomes to several issues that have weighed on markets for most of the year. The U.S. and China are approaching an initial accord on trade; the world's biggest central banks have slashed interest rates to curtail a manufacturing slowdown; and the odds of a disorderly U.K. exit from the European Union are declining.
Coupled with a climb in U.S. shares that has pushed major indexes to fresh highs, the moves highlight investors' sudden optimism after months of caution.
Driving the gains are signs of better-than-expected outcomes to several issues that have weighed on markets for most of the year. The U.S. and China are approaching an initial accord on trade; the world's biggest central banks have slashed interest rates to curtail a manufacturing slowdown; and the odds of a disorderly U.K. exit from the European Union are declining.
Coupled with a climb in U.S. shares that has pushed major indexes to fresh highs, the moves highlight investors' sudden optimism after months of caution.
No comments:
Post a Comment