Risk appetite showed a marked improvement as investors were gripped by optimism about the prospects for the world economy, although Wall Street showed signs of running out of steam after six straight days of gains.
The S&P 500 equity barometer failed to sustain an early break above the 1,500 – the first in more than five years – although there was little doubting the mood of bullishness that coursed through the markets.
Underpinning sentiment was a series of mostly positive January “flash” readings of global purchasing managers’ indices of manufacturing and service sector activity.
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