Economics
Bonds Rise With Emerging Markets After Trump Selloff; Oil Surges
- Dollar extends post-election gain versus yen on retail sales
- Crude jumps most in 7 months as OPEC members seen pushing deal
CMC's McCarthy: See Further Depreciation in Yuan
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The fallout from Donald Trump’s election to the U.S. presidency eased off in financial markets with Treasuries and emerging markets halting their slide. Stocks jumped with crude.
Treasury 10-year note yields fell from this year’s high and Italy’s bonds outperformed German bunds, which investors tend to favor in times of turmoil. The Dow Jones Industrial Average climbed to a record and shares in developing nations rallied after a four-day slump. The dollar advanced to a five-month high against the yen, and Mexico’s peso led gains among major currencies. Oil surged the most in seven months as OPEC members were said to be making a final diplomatic push toward securing a deal to cut output.