GLOBAL MARKETS-Global shares edge up as Trump signs $2.3 trillion aid bill

* U.S. stock futures reverse early losses after Trump's
tweet
* Trump has signed $2.3 trln spending package
* Gold, bitcoin rise amid expectation of weaker U.S. dollar
* 2020 asset performance http://tmsnrt.rs/2yaDPgn

By Hideyuki Sano
TOKYO, Dec 28 (Reuters) - Global shares climbed on Monday
after U.S. President Donald Trump signed into law a $2.3
trillion pandemic aid and spending package, backing down from
his earlier threat to block the bipartisan bill.
Markets cheered the move as it will restore unemployment
benefits to millions of Americans and avert a federal government
shutdown in the world's largest economy. "As the coronavirus pandemic has shown little sign of
abating, the emergency aid was needed to avoid a sharp slowdown
in the economy during the first quarter," said Nobuhiko
Kuramochi, market strategist at Mizuho Securities. "It would
have been unsettling if we hadn't had it by the end of year."
U.S. S&P futures EScm1 rose 0.62% in their first trade
after Christmas holiday, edging near a record touched last week.
The futures had earlier reversed losses after a cryptic
tweet by Trump - "Good news on Covid Relief Bill. Information to
follow" - helped offset worries about further delay in stimulus
spendings.
European shares are expected to follow suit, with Euro Stoxx
50 futures STXEc1 rising 0.42%, though many markets including
London will be closed on Monday.
Japan's Nikkei .N225 inched up 0.74%. MSCI's broadest
index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose
0.20%, but trade is slow with many markets still closed.
"It is positive for markets that we no longer have a chaos
over stimulus, considering there was a chance of a partial
government shutdown," said Masahiro Ichikawa, chief strategist
at Sumitomo Mitsui DS Asset Management.
"But on the other hand, markets have talked about that
stimulus for a long time and I would say most of it has been
already priced in."
U.S. bond yields edged up, with the 10-year U.S. Treasuries
yield up 1.5 basis point at 0.945% US10YT=RR .
The rollouts of COVID-19 vaccines are also bolstering hopes
of more economic normalisation next year, with Europe launching
a mass vaccination drive on Sunday.
That for now has offset alarms over a new highly infectious
variant of the virus that has been raging in the south-east of
England and was confirmed in many other countries, including
Japan, France and Canada, over the weekend.
AND COMMODITIES
Major currencies were little changed.
The dollar is widely expected to stay under pressure against
other riskier currencies as investors bet on continued recovery
in the global economy and a prolonged period of loose U.S.
monetary policy.
The euro traded at $1.2221 EUR= , a tad below its
2-1/2-year high of $1.22735, while the yen changed hands at
103.42 per dollar JPY= .
The British pound changed hands at $1.3571 GBP=D4 , not far
from a 2-1/2-year high of $1.3625 hit earlier this month after
Britain and the European Union reached an agreement on trade
framework after Brexit.
Precious metals were livelier as gold jumped more than 1% to
$1,899.7 per ounce XAU= and silver gained about 3% to $26.62
per ounce XAG= . GOL/
"The U.S. stimulus package will boost the economy and lead
to risk-on trades and a weaker dollar, which should support
gold," said Tatsufumi Okoshi, a senior commodity strategist at
Nomura Securities.
Bitcoin also extended gains over the weekend to reach a new
high of $28,377.94 BTC=BTSP before stepping back to $27,068,
bringing the total value of the cryptocurrency in circulation to
over $500 billion.
Oil prices edged down a tad, with U.S. crude futures CLc1
down 0.3% at $48.09 per barrel. O/R

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