Money market rates hit new low as ECB moves gain traction

LONDON: An all-time low for euro zone money market rates bolstered the region's bond rally and held down the euro on Tuesday, providing clear evidence that the European Central Bank's latest support measures are gaining traction.

The steady drip-feed of global stimulus also kept world shares inching towards an all-time high as another record close for Wall Street and a three-year high for Asia left them heading for a fifth day of back-to-back gains.