The Economy Major upside surprise in US employment. The Bank of Canada scales back operations. UK consumer sentiment remains depressed, but has likely bottomed. The ECB substantially boosts QE. Japan’s leading indicators at post GFC lows. Slight positive surprise in Australia’s Q1 GDP.
The Market Positive data and policy support drive massive equity gains. Bond yields surge on improving macro views. The dollar moves sharply lower while euro and Aussie jump. Oil surges; gold retreats as its safe-haven appeal fades.
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