Markets rise, Fed rate hike delay seen critical

Global markets rose again on Monday.

The S&P 500 climbed 1.8 percent, the STOXX Europe 600 rose 3.0 percent and the MSCI Emerging Markets Index jumped 2.1 percent.

Commodities also rose, with copper rising 1.5 percent and oil gaining 1.6 percent.

The gains in markets were mostly attributed to the view that the Federal Reserve will keep interest rates lower for longer.

“The Fed pushing out interest-rate hike expectations to next year has been critical,” Michael Purves, chief global strategist at Weeden & Co.

That view did not help US Treasuries on Monday though. Ten-year Treasuries ended five days of gains as yields rose six basis points to 2.06 percent.