LONDON: World stocks took a well-earned rest near record highs on Wednesday, as an International Monetary Fund (IMF) forecast of the strongest global growth since the 1970s this year and steady bond and FX markets kept risk appetite buoyant.
While rising global coronavirus disease (COVID-19) cases and geopolitical tensions between China and Taiwan and between Russia and Ukraine ensured it was by no means a fairytale, markets certainly had a Goldilocks feel again.
Europe’s STOXX 600 perched just below the first record high it had hit in over a year on Tuesday. MSCI’s 50-country world index was grinding out a sixth day of gains and Wall Street futures were pointing higher too.
In the bond markets, there was little sign that the…