Stocks, Bonds Climb as Fed Buttresses Cheap-Money Era; Oil Jumps
- Dollar depressed as Fed decision fuels gains in high-yielders
- Asian index futures signal more gains with Japan to resume
Markets React to Fed and BOJ Monetary Policy
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From the U.S. to Europe and Asia, markets are sending a clear signal -- the era of cheap money is far from over.
Traders piled into equities, bonds and commodities after the Federal Reserve reined in its outlook for future interest-rate increases, soothing concern that central banks globally would taper stimulus efforts. U.S. stocks approached record highs, bonds in the euro region had their best day since Brexit, while the dollar slipped against most major currencies. The decision also gave fresh impetus to emerging-market assets, with Russia and Argentina announcing debt sales. Commodities jumped for a sixth straight day as oil topped $46 a barrel.