Commodities Lead the Global Rally As the Yen Hits 20 Month Lows

“The yen weakened to a 20-month low against the euro as traders prepared for more monetary stimulus from the Bank of Japan. (8301) Wheat led commodities higher, while Chinese stocks rose the most in a month as regulators said foreign-investment quotas can increase.

The yen depreciated 0.3 percent to 119.36 versus the euro at 6:15 a.m. in New York after dropping to 120.13. U.S. Treasuries advanced, pushing 10-year yields one basis point lower to 1.86 percent. The Standard & Poor’s GSCI gauge of 24 raw materials rose 0.7 percent, with wheat gaining 2.3 percent. The Shanghai Composite Index jumped 3.1 percent. The Stoxx Europe 600 Index increased 0.1 percent and S&P 500 Index (SPX) futures added less than 0.1 percent….”

Full article