Stocks resume rally as BIS notes resilient markets

The rally in stocks resumed last week after pausing the previous week.

The S&P 500 rose 3.1 percent, the STOXX Europe 600 rose 4.7 percent and the MSCI All-Country Asia Pacific Index rose 2.0 percent.

The Bank for International Settlements released its latest quarterly report on Sunday.

In the report, the BIS noted that markets have been "resilient". While global bond yields have risen, stocks have climbed as investors appear to have "priced in faster growth and higher corporate profits in the United States" and corporate credit spreads remained tight.

However, emerging market economies have been less fortunate. The global rise in yields and the strengthening of the US dollar weighed on the assets of emerging market economies, leading to bond outflows and exchange rate depreciation.