(Bloomberg) — Stocks rose and bonds stayed under pressure as Chinese data kept investors upbeat on the global economy following strong U.S. hiring figures.
Equities climbed from Sydney to Hong Kong, and U.S. index futures also advanced
With global stocks close to all-time highs, investors are shrugging off political uncertainty and placing their faith in a continued earnings expansion on broadening global growth. U.S. employers added the most jobs in four months in June, though wage increases were sluggish, according to data Friday.
“The weaker wage growth buys the Fed more time to wait for inflation signals to pick up before increasing rates which supports the current market view of balance sheet announcement in September followed by a rate hike in December,” Stephen Innes, senior trader at Oanda Corp., wrote in a note Monday. “Ultimately the Goldilocks NFP is a win-win for the US dollar and global equities.”
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