Gains in risk assets follow an unprecedented move by the Federal Reserve to backstop large swaths of the financial systemMonitors displaying stock market information at the Nasdaq Market Site in Times Square, New York, the US.
“Any sign of positive news coming out of Washington or the different sides coming together creates a bit of positive sentiment across markets,” said Peter Essele, head of portfolio management for Commonwealth Financial Network. The dollar fell against developed and emerging currencies alike, in a tentative sign of reduced stress after the greenback’s steepest appreciation since the global financial crisis and longest winning streak since 2012. European bonds tracked Treasuries lower.
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