US stocks posted their largest one-day gain this year as the latest meeting minutes from the Federal Reserve suggest it may adopt a more cautious stance on hiking interest rates.
Emerging markets still sensitive to US policy and currency moves
The divergence in performance of US equities and high yielding bonds is set to continue, as several headwinds loom large in the face of high yield, explains Natixis manager Franck Nicolas.
The S&P 500 index fell on Monday, after the latest US housing data came in weaker than expected, fuelling concerns over the strength of the economic recovery.
'Investors should expect nothing from bonds’
The US dollar has hit multi-year highs against a basket of currencies as investors take a hawkish view of the latest finely-balanced set of communications from the Federal Reserve.