Investors were eyeing Wednesday's meeting of the US Federal Reserve. The central bank has decided to keep interest rates in the US steady. Recent surprisingly weak job data caused the Fed to hold still, but it was just one of many reasons.
Federal Reserve Chair Janet Yellen has told the US Congress that interest rates will not have to rise much further. Politicians are concerned that three rate rises have taken place amid an uneven economic recovery.
Germany's benchmark 10-year bond yield has made its biggest weekly jump since December 2015. Borrowing costs across the eurozone and beyond also rose as investors prepare for an end to the period of easy monetary policy.
The US Federal Reserve is starting a two-day review of its monetary policy. Markets expect the third interest rate increase since December 2016 at its conclusion.
The Dow Jones Industrial Average has managed to move beyond yet another psychologically important threshold in early trading. Analysts said the renewed rally came on the back of Apple's strong quarterly results.
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