Global Equities Mostly Up On Ideas Of Better World Economic Growth

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
(Kitco News) – World stock markets were mostly firmer overnight, on hopes that a U. S. corporate tax-reform plan will boost economic growth not only in the U. S. but around the globe. U. S. stock indexes are pointed toward slightly lower openings when the New York day session begins.
Gold prices are slightly lower and hit a six-week low overnight. Better risk appetite in the marketplace this week, as well as a rallying U. S. dollar index, are bearish for the safe-haven metal.
World bond market yields are on the rise this week, on ideas that better world economic growth will prompt the major central banks to become less accommodative on their monetary policies. Odds are rising (now about 75%) that the Federal Reserve will raise U. S. interest rates in December.
In overnight news, the Euro zone economic sentiment indicator rose to 113.0 in September from 111.9 in August. The September reading was the highest in over 10 years. This report falls into the camp of the Euro zone monetary policy hawks. European Central Bank President Mario Draghi said Thursday the ECB will decide later this year specifically when to start winding down its quantitative easing of monetary policy (bond buying).

This post was published at Wall Street Examiner by Jim Wyckoff ‘ September 28, 2017.