from Daily Reckoning.com:
It was ‘risk-on’ all around in global trade overnight. The major US indices were up nearly 1% on —get this — news of a cease-fire in Ukraine! Ignore the fact that markets never sold off on the escalating violence in the first place! But it sure makes for a good headline.
More than likely, everything rallied because poor US retail sales held out the hope that the US Federal Reserve will hold off on interest rate rises. The eternal guessing game of will they or won’t they, and more importantly, when, continues.
That’s good news for Aussie stocks, with the local market up strongly today. It reverses yesterday’s dose of reality where bad news on the employment front saw stocks sell off.
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