Shares stall near peaks, dollar shuffles higher – Reuters

SourceReuters
SectorFinancial Markets
CountryGulf

World share indexes stalled near all-time highs on Tuesday and the dollar and government bond yields tip-toed higher, as some of the biggest global economies pushed on with easing COVID-19 restrictions.

A surge in the price of almost everything, from wood and wheat to metals and microchips, has fuelled talk of an inflation spike.

Sensitive cyclical sectors including energy, mining and travel and leisure helped drive Europe modestly higher, while Wall Street’s tech giants, which have surged during the pandemic, were mostly pointing lower again.

On Monday, New York Fed head John Williams had said that the U.S. economic momentum was “not nearly enough” yet to change anything.

Bond market borrowing costs inched up on Tuesday, although signs that the world’s major central banks remain in no rush to reel in their massive stimulus schemes kept 10-year U.S. Treasury yields under 1.65% and Germany’s Bund yields below 13-month highs.

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