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Stocks Set to Rise; Euro a Focus After Catalan Vote: Market Wrap

Stocks may rise in the Asia Pacific region Monday after the S&P 500 index closed at a record high Friday. The dollar held gains from last week, when it put in its best performance of the year on optimism that the Trump administration is finally moving forward with tax reforms that could boost U.S. growth.

The euro was little changed after a contentious vote in Catalonia on whether to split from Spain, which was marred by violence. The tensions could have a bigger effect in the bond market, with the potential for Spanish bond premiums to rise over German yields.

“Is there not still a compromise to be found? My guess is that there is – and that things will settle down in coming months,” Erik Nielsen, global chief economist at UniCredit SpA. “I understand recent spread-widening for Spain, but my money is on calmer days ahead.”

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