Policy makers around the world are frantically assuring the markets that they won’t raise rates until it’s too late. Consequently, markets are soaring.
In addition to the major markets, long-dated oil has now hit $100 a barrel. Inflation-expectations as implied by TIPS are up…
Bloomberg: Stocks rose, sending the MSCI World Index higher for a fourth day, and commodities rallied after the Group of 20 nations agreed to maintain measures to boost economic growth. Gold advanced to a record as the dollar fell.
The MSCI World gauge of equities in 23 developed countries increased 0.9 per cent at 10:18 a.m. in London and futures on the Standard & Poor’s 500 Index climbed 0.9 per cent. Russia’s 30- stock Micex Index added 2.9 per cent. Gold gained 1.3 per cent to $1,109.50 an ounce and crude oil jumped 2 per cent. The dollar weakened against 14 of 16 major currencies tracked by Bloomberg.