Risk-On ‘Nirvana’ Envelops Global Markets as Stocks Hit Records
- Index of global equities rallies to a fresh all-time high
- Vaccines, business activity, Biden transition aid sentiment
Photographer: Dario Pignatelli/Bloomberg
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A triple hitter of positive vaccine news, better-than-expected U.S. economic data and the market-friendly selection of Janet Yellen as Treasury secretary has turned up the dial on global investor sentiment.
“It’s like a risk-positive nirvana has descended over the capital markets and traders have very little to trouble themselves with other than going with the flow,” Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note to clients Wednesday.