World stock markets shrugged off a spike in bond yields and gained strongly across the board this morning. Bond yields are rising because the world economy is back in growth mode, with all major sectors expanding (except for a couple of laggard emerging markets, namely Brazil and Russia. Another small but telling data point: the Netherlands reported the first double-digit increase in YOY industrial sales since 2007.
A small but telling clue that the world economy is back on track
Dutch industrial sales saw largest YOY increase since before the crises.