World equity markets inch higher, bonds dip on hopes of recovery – Gulf Today

World equity markets inch higher, bonds dip on hopes of recovery – Gulf Today

World equity markets inched higher and safe-haven bonds fell on Tuesday as stronger economic data from China and upbeat corporate earnings in Europe overshadowed concerns about a potential second wave of coronavirus infections.. An unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain the supply glut caused by the coronavirus pandemic helped bolster oil prices.. Easing lockdowns and hopes for economic recovery helped to lift European and US stock markets as well as oil prices on Tuesday.. Fears of a second wave of coronavirus infections weighed on Asian equities and the dollar.. Elsewhere Tuesday, oil prices jumped after Saudi Arabia said it would slash an extra one million barrels per day from its June output..