Most markets continued to rally on Thursday.
In the US, the S&P 500 rose 0.6 percent, rallying for a third day. The STOXX Europe 600 rose 0.7 percent.
US Treasuries and European government bonds rose while China’s seven-day repurchase rate fell for a fifth day.
Commodities mostly rose, with oil in particular surging 1.6 percent. However, gold fell 1.5 percent.
Jeff Gundlach told CNBC on Thursday that for credit markets, the "liquidation cycle appears to have run its course". Bill Gross thinks so too.
Meanwhile, economic data on Thursday were mostly positive.
In the US, consumer spending rose 0.3 percent in May and personal income rose 0.5 percent. The index of pending home sales jumped 6.7 percent in May, the biggest increase since April 2010, to 112.3, the highest level since December 2006.
In Europe, the economic sentiment indicator rose to 91.3 in June, its highest level in 13 months, from 89.5 in May.
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