Analysts at ANZ explained that it was a calmer start to the week offshore.
"Equities, commodities and treasury yields all pushed higher, while the USD was mixed against the G10. US stocks opened about 1% higher and have climbed to roughly 1.5% up on the day. Gains are broad based with energy, materials and information technology leading the charge.
VIX continued to fall, down 10% to 26.9. European equities opened higher too and managed to close up 1.2%.
US treasuries opened up 2-3bps with the official announcement of a big fiscal spending package.
However, the curve has flattened with the 10-yr up 1 bps and 30-yr falling (-2bps).
UK gilts underperformed (+3-4bps) with two BoE speakers highlighting the need for policy tightening.
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