Stocks and forex ride out Turkey shock – Reuters

Stocks and forex ride out Turkey shock – Reuters

NEW YORK (Reuters) - Global equities inched higher and safe-haven assets such as U.S. Treasuries rallied on Monday as investors weighed rising coronavirus cases in Europe against a break in the recent run-up of bond yields sparked by concerns of higher global inflation.On an unsettled day for global markets, risk assets such as oil rallied alongside safe havens such as Treasuries, while Turkish assets took a beating after a shock weekend decision to replace the country's hawkish central bank governor.A third wave of COVID-19 across Europe due to highly contagious coronavirus variants is boosting concerns of another round of economic restrictions, with Paris going into a four-week lockdown late last week.“The number of new COVID-19 cases is rising rapidly, and an extension of the lockdown inevitable for many European countries. No one will be surprised by such a decision,” said Milan Cutkovic, market analyst at Axi.“The question is whether investors will remain calm amid the increasing uncertainty. If the vaccination campaign would be running successfully, it would be much easier for market participants to ignore the sharp uptick in new cases.”MSCI's gauge of stocks across the globe gained 0.38%%, with slight gains in Europe but a 2.1% decline in Japan's