World stocks rallied on Friday, putting them on course for their biggest weekly rise in four years after minutes of the Federal Reserve's last policy meeting showed the U.S. central bank is in no rush to raise interest rates.
A couple of measures suggest there is ample liquidity in the U.S. corporate bond market amid worries it has become harder to buy and sell such debt as a result of tougher regulations, a New York Federal Reserve blog released on Monday showed.
Investors pulled a combined $75 billion from U.S. and emerging market equity funds in the third quarter, wiping a record $10 trillion off the value of global equities in the period, according to EPFR Global and Bank of America Merrill Lynch
Wall Street fell in volatile trading on Wednesday as weak Chinese and U.S. factory data hit material and industrial stocks.
Data showed U.S. manufacturing growth stayed at a two-year low in September, while Chinese factory activity shrank to a 6-1/2 year low in the month.