Markets rose on Friday to continue their post-Brexit rebound.
The S&P 500 rose 0.2 percent, the STOXX Europe 600 rose 0.7 percent, the FTSE 100 jumped 1.1 percent and the Shanghai Composite Index crept up 0.1 percent.
Commodities rose, with silver surging as much as 6.3 percent and West Texas Intermediate crude closing 1.4 percent higher.
The yield on US 10-year Treasuries fell three basis points to 1.444 percent.
“As bad as things have gotten, central banks have talked about new types of easing -- that’s going to keep a bid under equities,” said Andrew Brenner, head of international fixed income at National Alliance Capital Markets.
Mohamed El-Erian, the chief economic adviser at Allianz SE, told Bloomberg that US 10-year yields “can go to 1.25 percent quite easily if we continue to see this combination of more central bank activism and a slowdown in Europe”.