Global markets reversed their nervous sentiment last week, and a powerful rally improved asset prices with equities gaining an average of 3% for the week. Market participants seemed to place the recent collapse in the price of oil and the Russian ruble into perspective and appeared to be satisfied with the U.S. Federal Reserve stance on future policy announced on Wednesday. The combination of changing sentiment and further clarity of the Fed’s strategy left the U.S. Treasury bond ten year yield at 2.16%.
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