Oil prices, US bond yields and stocks rose to their highest levels in months yesterday as investors grew more confident that the US economic recovery is gaining speed.
Oil had surged 2.1 per cent to $86.62 a barrel by midday in New York, its highest level since October 2008, with buying sparked by the positive US jobs report released last Friday, when most markets were closed.
The yield on 10-year Treasury notes reached 4 per cent during yesterday's trading, its highest level since last June.
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