Euro bonds rally, shares sink on Swiss aftershocks



By Marc Jones

Shockwaves from Switzerland’s move to ditch its currency cap were still being felt on Friday, as investors made a fresh grab for top-rated government bonds, and world shares and commodities headed for another week of losses.

The Swiss franc dipped after Thursday’s surge, but it become the first country to see its 10-year bond yields fall below zero and its shares were again Europe’s worst performers.

Stocks worldwide were limping toward a third week in the red, while Wall Street [.N] was expected to decline for a sixth consecutive day for the first time since mid-2012, the height of the euro zone crisis.

Fragile risk appetite meant more record low yields for German and other core euro zone government bonds, while Greek markets fell as it emerged two of its banks had requested emergency ECB funding.

Commodity markets were for once an area of relative calm as oil climbed to just below $49 a barrel, safe-haven gold cooled after its best run in 11 months and copper settled after 7 percent plunge this week.

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