Friday, 6 June 2008

:: Jun 6 GLOBAL MARKETS-Trichet sends euro debt lower, U.S. jobs eyed
Fri Jun 6, 2008 5:38am EDT
By Jeremy Gaunt, European Investment Correspondent

LONDON, June 6 (Reuters) - Repercussions from the European Central Bank saying it could raise interest rates swept across markets on Friday, hammering short-tern euro zone debt, while investors also faced the key monthly U.S. jobs report.

Global stocks rallied as investors fled bonds. The euro held on to its heavy previous day's gains against the dollar, which in turn gained against the Japanese yen.

ECB President Jean-Claude Trichet jolted markets by saying higher benchmark interest rates were "possible" in July, kicking the euro higher and driving up bond yields as investors sold government debt.


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