BLOOMBERG.COM
Donald Trump’s plans for a U.S. construction boom have set off a chain reaction that’s invigorated commodities prices, hammered bonds, buttressed the dollar and is now ripping into emerging markets. Copper extended the biggest weekly advance in at least three decades in London. That’s boosting the outlook for inflation, causing the rout in bonds to deepen in Europe after more than $1 trillion was erased from the value of global debt market. Rising Treasury yields are driving the Bloomberg Dollar Spot Index to the highest since February, leading to the worst three-day selloff in five years for developing-world currencies, which caused central banks to intervene. European stocks pared their best weekly jump since July and S&P 500 Index futures fell.
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Donald Trump’s plans for a U.S. construction boom have set off a chain reaction that’s invigorated commodities prices, hammered bonds, buttressed the dollar and is now ripping into emerging markets. Copper extended the biggest weekly advance in at least three decades in London. That’s boosting the outlook for inflation, causing the rout in bonds to deepen in Europe after more than $1 trillion was erased from the value of global debt market. Rising Treasury yields are driving the Bloomberg Dollar Spot Index to the highest since February, leading to the worst three-day selloff in five years for developing-world currencies, which caused central banks to intervene. European stocks pared their best weekly jump since July and S&P 500 Index futures fell.
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