A positive time for markets - ANZ
Analysts at ANZ explained that it was a positive time for markets, particularly US equities.
"European bourses fell 0.3-0.6% with FTSE 100 leading declines, off 0.9%. There is growing expectations that there will be an agreement between the UK and EU at the 14-15 December EU summit, which saw the GBP lift. US equities rebounded strongly. The Dow climbed steadily above 24,000 with broad-based gains (up a hefty 1.4% at the time of writing), while S&P added 0.9%."
"Tech stocks rebounded from yesterday’s sharp fall, with the NASDAQ up 0.9%. In terms of drivers, tax legislation looks to be getting closer to passing the Senate and US data confirmed the buoyant growth outlook. In fixed income markets, the US 10-year yield sits at 2.41% with the lift in PCE momentum helping push rates up 2bp. Yields in Europe declined a little, related to weaker inflation data. Oil rose a small amount of news that OPEC and Russia agreed to extend curbs through 2018, while gold declined 0.8% to USD1275/oz."