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S&P 500 tops 4000 for first time – The Australian Financial Review
A broad rally helped lift the benchmark US equity index to a record high. Eight of its 11 industry groups closed higher, paced by energy and information technology….
The yield on the US 10-year note dropped 7 basis points to 1.67 per cent as of 4.23pm in New York. The US bond market will be open for a half day on Friday local time.
The yield retreat is consistent with increased (foreign, liability-matching, and re-balancing) buys, Mohamed El-Erian said in a tweet. Look for these flows to periodically interrupt but not derail a continued move up in yields over time.
Investor sentiment overall is being bolstered by rising optimism about the US economic outlook;…
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