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World stocks bounce back on spending hopes; most markets tank for the week 2 New York

U.S. Treasury yields rose as liquidity remained scarce even after the New York Federal Reserve's action to make a massive amount of cash available.

Benchmark 10-year notes last fell 25/32 in price to yield 0.9313%, from 0.852% late on Thursday.

Italy, where the COVID-19 death toll shot past 1,000 people, saw its borrowing costs spike by about 73 basis points this week - the most for any week since 1994.

Bond yields rose across the euro zone as investors' expectations grew for fiscal stimulus in the region to combat the coronavirus pandemic.

Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite Friday's gains, as the coronavirus outbreak threatened demand and crude producers promised more supply.

U.S. crude rose 1.52% to $31.98 per barrel and Brent was last at $34.18, up 2.89% on the day.

The dollar extender its previous session's Dollar buying overnight, but the yen felt the pressure of risk-on trading.

The dollar index rose 1.217%, with the euro down 0.9% to $1.1082. The Japanese yen weakened 3.05% versus the greenback at 107.94 per dollar, while sterling was last trading at $1.2296, down 2.19% on the day.

Source: Saudi Press Agency

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