U.S. stocks rose, sending the Standard & Poor’s 500 Index to an all-time high, as the Federal Reserve said growth is bouncing back and repeated that interest rates will remain low for a “considerable time.”
Stocks rallied, sending one of the broadest measures of global equities to an all-time high, and Treasuries gained as the Federal Reserve said U.S. growth is bouncing back and repeated that rates will remain low for a “considerable time.” Brent crude climbed to a nine-month high.
U.S. stocks extended all-time highs as smaller U.S. companies rallied amid merger activity. Treasuries fell as Morgan Stanley recommended going “maximum underweight” U.S. debt. Oil jumped and corn prices slumped.
Sun Life Financial Inc., Canada’s third-largest life insurer, hired Carl Bang from the Qatar Foundation Endowment to help lead a push into overseeing funds for pension plans and institutional investors.
Sovereign wealth funds in Asia- Pacific, Europe, Middle East and Africa increased assets by 19 percent over nine months, according to a survey of 12 clients by State Street Corp., the world’s third-largest custody bank.