Tuesday, 21 June 2016

Global stocks rise as Brexit fears recede

Stocks surged on Monday as concerns over the UK's exit from the European Union receded.

The S&P 500 rose 0.6 percent, the STOXX Europe 600 surged 3.6 percent and the Nikkei 225 jumped 2.3 percent.

The yield on the 10-year US Treasury note rose to 1.670 percent from 1.616 percent on Friday.

“It’s a reassessment of risk, clear and simple,” said Tom Carter, managing director at JonesTrading.

Indeed, Bryan Rich thinks that a UK exit from the EU is “not going to happen” and “that should clear the way for broad global stock market rallies and a sharp bounce back in yields”.

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