Market wrap: risk assets surged again - ANZ

Analysts at ANZ noted that the risk assets continued to surge today with US equities printing record highs, yields backing up, commodities rallying, and USD selling off.

Key Quotes:

"Japan’s bourses continued to rally on QQE speculation, with Ben Bernanke meeting with PM Abe and his team."

"The gains spilled over to the European and US markets. The Euro Stoxx was up another 1.7%; CAC 40 up 1.6%; and DAX up 1.3%. The S&P 500 was up 0.7% at the time of writing, led by energy and material shares. US Treasury yields rose, with the 2-year up 3bps, 5-year up 6bps, and the 10-year up 8bps."

"European yields were also higher, with the German 10 year up 8bps and UK up 7bps, although the periphery moved less."

"Commodities were led higher by oil (WTI up 4.3%), while gold was off 1.6%. In currency markets, USD declined against most. However, it gained further on the JPY, with 105 being tested."