Strong Rally Ends A Turbulent January

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Global stock markets ended a turbulent month with a strong rally, boosted by a surprise interest rate cut from the Bank of Japan – its first ever negative rate. The yen plummeted and Japanese bonds soared on the news. Traders brushed aside earnings letdowns, soft economic data and market volatility to bid up bonds, gold, oil and stocks. Even Chinese stocks gained, if only for the day. The ten-year U.S. Treasury note yield fell from 2.05% last week to 1.92% at Friday’s close.

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