Stocks put in a strong performance on Monday, bouncing back from last week’s falls. US Treasury yields fell back towards 1.4% providing relief for risk assets which had declined sharply as yields rose last week above 1.6%. Approval over the weekend from the House of Representatives for Joe Biden’s $1.9 trillion relief package also helped markets higher.
UK and European Stocks are flat to slightly lower this morning after Monday’s rally saw the S&P 500 advance the most in a single day in almost nine months. In the UK analysts looking ahead to the budget tomorrow with Morgan Stanley seeing a £20 billion package of measures as likely, along with tax increases.
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