Stocks surge on strong US jobs data
Friday 18:25 GMT. Global equity indexes rose on Friday and the S&P 500 extended its best start for the year since at least 1997 after better than expected US jobs data joined improving service sector surveys to boost investor hopes over the global economic recovery.
Risky debt use on repo market hits 2008 levels
The use of lower-rated debt in a key US funding market has returned to pre-crisis levels, fuelling fears that the so-called shadow banking system is becoming riskier.
The repo market is an important part of the shadow banking sector, which consists of unregulated financial institutions and activities.