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Stocks rise and bond yields march higher, as investors focus on economic recovery, instead of Trump turmoil and COVID crisis


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SOURCE: https://markets.businessinsider.com/currencies/news/stock-market-us-futures-bond-yields-boosted-by-economic-optimism-2021-1-1029958747
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Summary

Bill Clark/Getty ImagesGlobal stocks rose on Tuesday, shaking off the political turmoil in Washington DC, where Democrats are preparing to impeach Donald Trump for a second time, and rising COVID-19 cases around the world, while bond yields marched higher and Bitcoin recovered after a harsh sell-off.On Monday, Republicans blocked an attempt by House Democrats to introduce a resolution for Pence to forcibly remove Trump. "With the Fed's rate expectations at rock bottom, any further rise in US yields will remain a function of rising inflation expectations or term premium, which leaves us confident on our bearish dollar call," Turner said.After a 1.2% rally in the space of a week, the dollar index took a breather on Tuesday, holding steady around 90.47, which in turn lifted commodities such as gold, oil and copper, as well as cryptocurrencies, with Bitcoin rising back above $36,000 after its biggest one-day drop since late November on Monday.Read more: 'This one feels a lot like 1999' : An ex-Wall Street strategist breaks down why he is approaching the markets with a 'tactically bullish' strategy - and 3 pieces of advice on how to play a market set for a correction

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