Articles
-
Rally cools in US and Europe while bonds warm
A GLOBAL stock market rally stalled yesterday after Asian markets closed as euphoria over major central banks’ coordinated cut to borrowing costs wore off, although hopes that European leaders will next week deliver a long-term solution to the debt crisis helped push eurozone borrowing rates sharply lower.
Stocks and bonds had jumped on Wednesday when central banks in Europe, the US, Canada and Japan made it cheaper for banks to borrow dollars and China’s central bank acted to release money for lending.
Read full article