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Biden s spending spree and strong PMI data overshadows Covid concerns

Biden’s spending spree and strong PMI data overshadows Covid concerns Posted 4 hours agoSharePrint FTSE, European indices rise European stocks have plenty of cheer on the final day of a short trading week, with the Dax and EuroStoxx 50 hitting a fresh all-time high, successfully shrugging off Covid concerns. News that President Biden is ready to inject a further USD2 trillion into the US economy has been well received. The world’s largest economy will see the huge injection of cash improve roads, railways, broadband and clean energy, while being offset by a rise in corporate taxes. Investors are already pricing in the read-across effect, and a boost to the US economy is good news for the global economy.

Asia pauses for thought - MarketPulse

Asia pauses for thought March 2, 2021SharePrint Asian markets appear to be taking a breather this morning, having led the global equity recovery yesterday. US markets found their mojo again overnight, with a day of calm on bond markets greenlighting equities to leap higher on the vaccine recovery optimism that characterised the Asian session earlier in the day. US and Eurozone Manufacturing PMIs accelerate US ISM Manufacturing PMI powered higher overnight, as did the Eurozone PMI’s, despite Asia delivering a Lunar New Year-affected mixed result. Fed Governor Barkin speaking yesterday, said that he wasn’t concerned by an increase in Treasury yields, with his attention much more focused on the slack in the labour market. It will be interesting to see if other Fed speakers this week convey a similar message.

The sons of anarchy - MarketPulse

The sons of anarchy - MarketPulse
marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.

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