Stocks and Bonds Rise as Oil Holds Below $100

Global stocks and bonds rose on Thursday. Investors are awaiting new data from the US labor market, as well as remarks from Federal Reserve officials. Markets currently assign a roughly 60% probability that the Fed will raise interest rates this month.

The European STOXX 600 index rose 0.2%, ending a three-day decline. As the price of 10-year US treasuries also rose, their yield fell to 4.77%. The Japanese yen strengthened significantly, gaining more than 2.5% over two days on expectations of an earlier rate hike by the Bank of Japan.

In the commodities markets, the price of Brent crude oil rose about 1% to over $96 per barrel. The increase was driven primarily by renewed tensions between the US and Iran. Gold rose 1.1% to $4,434 per ounce as investors sought safer assets.

(Reuters, sab)