Stock markets were also helped by the Bank of England’s decision to restore financial stability by buying as many long-term government bonds as needed.. This measure raised the price of British debt and pushed down the yields of world benchmark indices.
The return of the benchmark 10-year treasury notes US moved away from its maximum of 12 years and touched its minimum of the day, at 3.7%, while that of its German peers, the reference of the euro zone, fell after reaching a maximum of 11 years.
“Can today’s bull run continue for a period of time? Well, maybe a couple of days, but I don’t think we can use the phrase ‘out of the woods’ with concerns about the economy deepening.” said Hugh Johnson, chief economist at Hugh Johnson Economics in Albany, New York.
In the meantime, apple shares, the most valuable publicly traded company in the world, lose a 2.8% after Bloomberg reported that the company asked its suppliers to reduce their efforts to increase the assembly of its products iPhone 14 up to 6 million units in the second half of this year.
Between the 11 S&P 500 sector indices, technology was the only one that fell, 0.5%, due to the drag of Apple. Leading the gains were communication services, healthcare and energy, with increases of between 2% and 2.5%.
Biogen’s stock they shot a 37.5% after his Alzheimer’s drug, developed with his Japanese partner Eisai, succeeded in slowing cognitive decline.
Source: Ambito
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