Stocks surge, bond yields slip ahead of Fed decision

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By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) – Global stocks surged on Monday, with the S&P 500 closing at a new record close and European shares hitting a two-year high, as markets slashed ambitious bets at the end of 2023 on interest rate cuts by the Federal Reserve and other central banks. MSCI’s all-country World index also climbed to a fresh two-year high, closing up 0.6%, lifted by the S&P 500’s sixth all-time closing high so far in January. A slight gain in Europe’s broad STOXX 600 index after its biggest weekly gain in three months last week also helped advance the global ga…

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