World equity markets inched higher and safe-haven bonds fell on Tuesday as stronger economic data from China and upbeat corporate earnings in Europe overshadowed concerns about a potential second wave of coronavirus infections.
Stock markets have rebounded sharply in recent weeks as the spread of the novel coronavirus was curbed in the largest economies of Asia and Europe, while parts of the U.S. economy began to reopen after weeks of lockdowns.lockdown
"We have had a rally that has not been loved by everybody," said Hans Peterson, global head of asset allocation at SEB Investment Management. "That rally might continue for a while longer, but we have probably gone on to a bit of a consolidation phase for now," he said, as investors pause to assess how quickly the global economy can recover.