WALL STREET joined the chorus of indices worldwide booming upward on the Eurozone’s bond-buying plans, announced yesterday
Investors readying for a rise in global liquidity initially lifted US Treasuries, whose relatively rich yields grew more attractive with prospects of lower Eurozone bond yields, before prices turned lower.
“It’s likely to impact yields everywhere,” said Aaron Kohli, a strategist at BNP Paribas in New York. “When you put this much stimulus into the markets, it's going to go other places that you hadn't intended, and one of those places is going to be US debt.”
Robust US economic data added to Wall Street gains, where the Dow Jones ended up 260.6 points, or 1.48 per cent, at 17,814.88, the S&P 500 rose 31.08 points, or 1.53 per cent, to 2,063.2, and the Nasdaq added 1.78 per cent to 4,750.40.