Equities and other risky assets climbed to 2009 highs yesterday as the mood of optimism over the global economy showed few signs of abating.
The annual gathering of central bankers at Jackson Hole in Wyoming over the weekend saw several officials claim that the world economy was pulling out of recession – although with the caveat that much work still remained to be done.
“As is often the case there was something for everyone – optimists can point to officials' growing confidence that the worst is over, while pessimists will note the near-universal view that the recovery will be slow and bumpy,” said Julian Jessop at Capital Economics.
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