Hopes of debt ceiling hit boosts global stocks.

On Tuesday, President Biden is set to meet lawmakers to discuss the debt ceiling. Meanwhile, many Federal Reserve officials are scheduled to speak this week, with traders holding odds on the fed’s holding rate unchanged at 17.7%, up from 8.5% a week ago. On Monday, cautious optimism saw global stocks rise, with European markets gaining 0.4% at 1102 GMT. In emerging markets, the Turkish lira hit a two-month low and the Thai baht rose ahead of weekend elections. The People’s Bank of China kept interest rates on its medium-term policy loans unchanged on Monday.

Over time, the short end of the yield curve has distorted as investors avoid maturing bills, with yields on benchmark 10-year bonds rising about 3.5 percentage points. Many federal reserve officials are speaking this week, with Chairman Jerome Powell scheduled for Friday. The market is also looking ahead to Thursday’s weekly US new jobs report.

Brent and US crude futures rose 0.3% to $74.36 and $70.26 a barrel, while gold futures traded 0.1% higher at $2,013.46 an ounce by 1111 GMT.

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