Stocks Bounce Back Amid Middle East Tensions
Global stock indices rose on Wednesday after recent declines, while investors remained focused on developments in the US-Iran conflict. The Japanese yen gained sharply against the US dollar, with its value up 0.92 per cent at 158.72 per dollar.
The yield on U.S. Treasury notes eased from multi-year highs, and oil prices were moderately higher amid fears of further disruption to energy supplies. This came after a barrage of airstrikes by the US against Iran, which prompted Iranian attacks on US targets in the region.
According to Rick Meckler, partner at Cherry Lane Investments, 'We're seeing a little bit of a relief rally in stocks after the underperformance that came' due to higher yields. He added that investors may be looking for bargains after recent selling.