GLOBAL MARKETS-Global equities rise as U.S. bond yield fears ease [Reuters]
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Source: Reuters
By Herbert Lash 5 Min Read (Adds gold, oil settlement prices) * Reuters Live Markets blog: * Graphic: Global asset performance tmsnrt.rs/2yaDPgn * Graphic: World FX rates tmsnrt.rs/2egbfVh NEW YORK, Feb 24 (Reuters) - A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher. Sales of new U.S. single-family homes increased more than expected in January as the median sale price rose 5.3% on a year-over-year basis, the latest data to show certain consumer prices are rising faster than expected. Crude oil rose more than 2% to fresh 13-month highs while gold prices struggled for traction as elevated Treasury yields eroded the allure of bullion as an inflation hedge. The dollar slid to multi-year lows against the pound and commodity-linked currencies including the Canadian, Australian and New Zeal
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