MSCI’s broad index of global shares edged 0.2% higher, on track for a weekly rise of 0.6%.
Bets for a pause were supported by data overnight showing the number of Americans filing new jobless claims surged to a more than 1 1/2-year high, indicating a loosening labour market that could further quell inflation. “We’re all worried about liquidity,” said Ben Jones, director of macro research at Invesco. The Fed, he added, “still wants to tighten,” policy and therefore may allow the TGA rebuild to drain liquidity from markets without stepping in to provide other support tools.On Wall Street overnight, gains were led by the tech-heavy Nasdaq, which surged 1.27%.
Erdogan had last week put well-regarded former finance minister Mehmet Simsek back in the post. Simsek said this week that the guiding principles for the economy would be transparency, consistency, accountability and predictability.
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