Sentiment lifted on Tuesday by drop in Treasury yields and latest OECD forecast

Market Sentiment was helped by a drop in US Treasury yields and a positive mood ahead of Joe Biden's coronavirus relief bill being passed by House Democrats today.

Sentiment lifted on Tuesday by drop in Treasury yields and latest OECD forecast

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Stocks were higher on Tuesday, particulary technology shares which bounced back strongly. Sentiment was helped by a drop in US Treasury yields and a positive mood ahead of Joe Biden’s coronavirus relief bill being passed by House Democrats today. The President is expected to sign it by the weekend.

Markets were also buoyed by a report from the OECD (Organisation for Economic Cooperation and Development) which stated “Global GDP growth is now projected to be 5.6% this year, an upward revision of more than 1 percentage point from the December OECD Economic Outlook” but saying “much will depend on the race between vaccines and emerging variants of the virus”.

 

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