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US stocks climb, bonds pare gains

LiveMint logoLiveMint 22-03-2017 Jeremy Herron

New York: US stocks rebounded, while Treasuries pared gains as markets reclaimed a measure of calm after the biggest selloff in American equities since October spread around the globe.

Technology shares led gains in the S&P 500 Index, while banks rebounded from an eight-week low. Treasury 10-year yields reclaimed 2.40% after dipping below that level earlier. Bloomberg’s dollar measure fell a sixth day, its longest slump since November. Oil pared declines though it held $48 a barrel in New York.

Speculation that Donald Trump’s pro-growth policies won’t sail through Congress ignited a selloff Tuesday, with a vote scheduled on health-care reform set for on Thursday. Banks rebounded after bearing the brunt of the rout on concern promised regulatory rollbacks may languish. While the Trump trades have added to market gains since his election, signs growth in the global economy are accelerating have underpinned the rallies in riskier assets. Bloomberg

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