Risk Surge Continues as Markets Sees Signs of Recovery

Risk appetite is on a roll, as participants have shrugged off concerns over:

The US bank stress test.
Swine flu.
Bankruptcy in the automotive sector.
Potential of ECB QE.
Trepid global economic environment to acquire risky assets.

Furthermore:

RBA held rates at 3.00% as was widely expected
China’s PMI data, which showed expansion to 50.1 from 44.8 in April
US pending home sales for March increased by 3.2%, while construction spending rose 0.3%
Oil creeps above $54 on economic recovery optimism
Federal Reserve Chairman Ben Bernanke gave his most optimistic prediction yet Tuesday about the end of the U.S. recession, saying he expects the economy to start growing again this year

LEER MAS