Pre-Market: Global Stocks Higher

WORLD HEADLINES – Global shares rose on Monday, with Chinese stocks hitting 21-month highs and Germany a record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt.

STOCKS – The pan European STOXX 600 index added 0.2 percent and Germany’s DAX touched an all-time high after data showing industrial output far overshot forecasts.

BONDS – Spain’s 10 year government bond yield was down 6.5 basis points at 1.65 percent. The IBEX stock index rose 0.8 percent, outperforming the rest of Europe. The US bond market is closed for a holiday,  Tokyo markets are also closed.

COMMODITIES – Gold hit a one-week high as tension over North Korea saw some investors seek safety in the metal, it rose 0.4 percent.

CURRENCIES – Sterling gained as Prime Minister Theresa May looked poised to reassert her leadership.

ECONOMIC DATA – Eurogroup Meetings (all day), US Holiday.

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