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GLOBAL MARKETS-World stocks at 9-month high, spreads narrow

Published 07/21/2009, 07:51 AM
Updated 07/21/2009, 07:56 AM

LONDON, July 21 (Reuters) - World stocks hit a 2009 high on Tuesday, taking them to levels last seen in October 2008, and emerging market debt spreads with U.S. Treasuries were the narrowest in 10 months.

MSCI's all-country world stock index touched 255.35, slipping past a June 11 high to stand at its highest since October 14 last year.

Emerging sovereign debt spreads narrowed to touch 400 basis points over U.S. Treasuries for the first time in 10 months before widening to 401 bps, 4 bps tighter from the previous close.

Emerging shares were also hovering at 10-month highs, a level they reached on Monday.

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