Market Comment | Bonds and stocks rally as expectations of dovish monetary policies rise

Summary

Global yields dropped across the board, with the 10Y German yield hitting fresh record low on expectations of global central banks' dovish actions. Equity market rallied supported by lower yields.

Key points

• Key points:
• Lagarde nomination for ECB President is being viewed as a dovish signal.
• Trump will nominate two new Fed officials that are expected to favor lower interest rates.
• U.S. oil inventories declined below the expectations.

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