Global Markets: Stocks hover near record highs as bond yields slide

NEW YORK/LONDON: European shares and an index of global stock performance scaled new peaks while yields on U.S., Japanese and European government debt fell on Friday as investors embraced the easy monetary policies of major central banks.

Stocks on Wall Street seesawed near breakeven as investors repositioned portfolios into tech stocks after they shrugged off data on Thursday that showed year-on-year inflation spiked to 5.0per cent in May, a jump the Federal Reserve has said is transient. "There is a concern that eventually you could get some migration out of stocks into bonds," Meckler said."But right now we seem to be at that pre-tipping point where bonds don't yield enough to scare people out of stocks."

Euro area bond yields followed Treasuries. Benchmark German 10-year bonds fell 3 basis points to -0.28per cent and were set for their best week of the year. Yields move inversely with prices. The euro and sterling dipped against the dollar as investors bet interest rates would stay lower for longer in Europe.

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