WASHINGTON, Jan 29 — Global equity markets eked out gains yesterday at the end of a tumultuous week dominated by concerns over the Federal Reserve’s monetary policy and geopolitical tensions between Russia and the West.
The dollar, meanwhile, consolidated gains and was on track for its biggest weekly rise in seven months against other major currencies as markets priced in a year ahead of aggressive hikes in US interest rates. On Wall Street, the Dow Jones Industrial Average rose 0.43 per cent and the S&P 500 gained 1.00 per cent. The Nasdaq Composite added 1.52 per cent.
The two-year US Treasury yield, which typically moves in step with interest rate expectations, was down 2.2 basis points at 1.170 per cent, having started the year at roughly 0.75 per cent.
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