London — World stock markets made a super-charged sprint towards an 11% weekly gain on Friday — their second best of all time — after US President Donald Trump laid out plans to gradually restart the coronavirus-hit US economy following similar moves elsewhere.
“The market continues to look through terrible data ... on anticipation of economies re-opening,” said Steen Jakobsen, chief investment officer at Saxo Bank. “And hopes that a new drug treatment will help lift longer term uncertainty about the Covid-19 pandemic.” Back in Europe, Italian bond markets, which have been under pressure as the country’s virus difficulties push its debt-to-GDP ratio towards 150%, also rallied as France expressed support for joint eurozone debt issuance.
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