Saturday, 5 March 2016

Markets rally as Jim Rogers sees recession

Markets continued to rally on Friday.

The S&P 500 rose 0.3 percent, the STOXX Europe 600 rose 0.7 percent and the MSCI Emerging Markets Index rose 1.6 percent.

Copper jumped 3.6 percent while West Texas Intermediate crude oil surged 3.9 percent.

US ten-year Treasuries note yields rose four basis points to 1.88 percent as a report on Friday showed that nonfarm payrolls increased by 242,000 in February, exceeding most economists' forecasts.

However, the employment report also showed that average hourly wages fell by 0.1 percent.

Indeed, Jim Rogers thinks that there is a 100 percent probability that the US economy would be in a downturn within one year.

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