Global shares rallied, with Japan’s Nikkei hitting a three-decade peak, while U.S. Treasuries extended their steepest sell-off in months on Friday as investors looked beyond rising coronavirus cases and political unrest in the United States to focus on hopes for an economic recovery later in the year.
Europe’s Euro STOXX 600 was up 0.6%, with Frankfurt’s index up 0.8% after German industrial output and exports rose in November.
U.S. S&P 500 e-mini stock futures also pointed to a cheery open, rising 0.3%.
The upbeat mood emerged after Wall Street hit record highs on Thursday, while bond prices fell as markets bet a new Democratic-controlled U.S. government would lead to heavy spending and borrowing to support the country’s economic recovery.
Investors were also awaiting U.S. non-farm payrolls data due later in the day to gauge the jobs market’s health.
The MSCI world equity index, which tracks shares in almost 50 countries, rose 0.5%, extending its push into record territory and set to close out its best week since late November.