S&P 500 is less than 0.5% away from

S&P 500 is less than 0.5% away from wiping out Brexit rout
Yields on 10- and 30-year U.S. Treasuries fell to record lows
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U.S. stocks capped the biggest four-day rally in nine months, as bonds rose worldwide on speculation central banks will act to limit the fallout from the U.K.’s vote to leave the European Union.
The S&P 500 Index has recouped all but about half a percent of the two-day rout triggered by Brexit. European equities pushed their five-day gain past 3 percent for the best week in a month, with the U.K.’s FTSE 100 posting its biggest weekly rally since 2011. Treasury yields fell to record lows along with rates from Spain to Japan as policy makers signaled their readiness to shore up the economy. The pound slid a second day as gold rose a fifth week.

Statements from the European Central Bank and the Bank of England that they stand ready to loosen policy in the aftermath of the Brexit referendum helped halt a two-day rout in markets. Odds that the Federal Reserve will raise borrowing costs this year as planned have fallen to less than 10 percent. Data today showed U.S. factory activity expanded in June at the fastest clip in more than a year, underscoring optimism in the strength of the world’s largest economy as investors look to data for clues on the trajectory of interest rates.
“Central banks coming out and reinforcing that they were a backstop gave investors the confidence that they would have enough support to keep making moves,” said Walter Todd, who oversees about $1.1 billion as chief investment officer for Greenwood Capital Associates LLC in South Carolina. “That and the timing of the quarter-end played into it and helped the rally start and the market really rebound.”
U.S. markets will be closed on Monday in observance of Independence Day, while trading in Treasuries was shut at 2 p.m. Friday in New York, according to the Securities Industry and Financial Markets Association.