Global stocks soar on upbeat US economic report; Treasuries slump

World markets surged on Wednesday following an unexpected jump in the US manufacturing index and bullish economic figures from Asia.

The Dow Jones has climbed 2.51% to 10,265.61 after two hours of trading, while the broader S&P 500 jumped 2.78% and the tech-heavy Nasdaq soared 2.94%. Global stocks are also seeing their best rise since May, with the MSCI World Index adding 2.8% by 11am New York time. London's FTSE posted triple-digit gains, advancing 141 points, or 2.7%, to 5,366, its strongest daily performance since 6 July. Elsewhere, the French Cac and German Dax also soared. The jump in equity markets has hit bond yields, with the benchmark 10-year Treasury rising 12 basis points to 2.6%. Much of the posit...