European shares jump and bond markets recover; February PMIs in focus

LONDON: European shares jumped on Monday and the bond market calmed, with yields dropping from their recent spikes, while optimism about U.S. fiscal stimulus sent oil prices higher.

Market participants have become wary in recent weeks that, when economies re-open from their coronavirus lockdowns a combination of massive government stimulus and pent-up consumer demand will cause inflation to accelerate. Helping sentiment was news that deliveries of the newly approved Johnson & Johnson COVID-19 vaccine should start on Tuesday.

"We expect clear forward guidance by the Fed that it will not taper its asset purchases until the labour market has healed and a faster pace of ECB asset purchases if necessary."

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