LONDON / HONG KONG, April 13 (Reuters). Global stocks rose on Tuesday as robust trade data from China added confidence in a recovery in domestic demand. Market participants waited for US inflation to pick up.
China’s exports in US dollars rose over 30% yoy in March, while imports rose 38%, the fastest pace in four years, which is on suggesting a recovery in domestic spending after the pandemic. wide Euro STOXX 600
increased with export-intensive German stocks by 0.3% to almost record highs
by 0.2%. Indexes in Paris
and London stocks fell 0.1%.
Investors focused on March US inflation data due at 1230 GMT. Markets expect that a forecast rebound in inflation will accelerate recent moves by equity investors towards cyclical stocks.
“The question for the next few months is not whether inflation will accelerate, but how much inflation will accelerate said Hugh Gimber, JP global markets strategist Morgan Asset Management.
“We see scope for further increases in government bond yields over the course of 2021. We would expect this to be a continuation of the rotation we have seen over the past six months or so towards more cyclical sectors. “
The 10-year US Treasury yield
US10YT = RR
rose 1.6908%, below the 14-month high of 1.776% hit on March 30th. Bond yields rise when prices fall.
Previously, Asian stocks had received support for China’s strong trading data, despite MSCI’s broadest index for stocks in the Asia-Pacific region outside of Japan
gave up its gains – as did China’s blue-chip index CSI300.
“China is benefiting from its rapid ‘first, first out’ recovery, but the global economy is also accelerating and accelerating and this will reduce some of China’s export performance in the coming quarters,” said John Woods, Credit Suisse (SIX :
) Chief Investment Officer for Asia Pacific.
On the dollar foreign exchange markets
rose from nearly three-week lows versus other major currencies on Tuesday, driven by a surge in government bond yields. The dollar has eased along with US yields this month after rising to multi-month highs as markets expect key fiscal stimulus, coupled with continued monetary easing, to accelerate US economic growth and higher inflation.
Eric Rosengren, president of the Boston Federal Reserve Bank, said Monday that the US economy could see a significant upturn this year due to loose monetary and fiscal policies, but the country’s labor market continues to face weakness .
He said that with inflation still below the central bank’s target rate of 2%, the current “extremely accommodative” monetary policy stance remains appropriate. Crude oil futures
rose 37 cents, or 0.5%, to $ 63.63 a barrel by 0744 GMT. US crude oil futures
gained 27 cents, or 0.5%, to $ 59.58 a barrel.
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