The record-breaking rally in global equities found new impetus on signs the US and China were closing in on a trade deal, triggering gains in copper and oil. Treasuries dropped across the curve and gold slid as demand for the traditional safe havens waned.
MSCI’s index for global stocks climbed 0.2% to an all-time high, helped by records for Japan, South Korea and a gauge of Asian shares. Futures for the S&P 500 and the Nasdaq 100 advanced after both underlying indexes closed at a new peak last week. Copper — a bellwether for global growth — surged, as did oil, with the potential US-China deal bolstering the demand outlook. Contracts also indicated a stronger open for European stocks.
