World stocks surged to a 15-month high on Thursday, as investors bet that the most aggressive rise in world borrowing costs in the last 40 years was finally cresting.

The MSCI’s 47-country ACWI stocks index was at its highest level since April last year, having surged 30% since November.

The gains were broad-based, with all major regions in positive territory.

In Europe, the STOXX 600 index rose 1.1%, while the DAX in Germany and the CAC 40 in France both rose 1.2%.

In the United States, the S&P 500 index was up 1.0%, while the Nasdaq Composite index was up 1.2%.

The gains came after the Federal Reserve raised interest rates by a quarter-point on Wednesday, as expected.

However, the market was cheered by comments from Fed Chairman Jerome Powell, who said that the Fed did not expect to raise rates by more than 75 basis points in total this year.

This suggests that the Fed may be nearing the end of its tightening cycle, which has been weighing on economic growth.

Investors were also encouraged by data showing that inflation in the United States may be starting to peak.

The Consumer Price Index rose 8.6% in May, but the core CPI, which excludes food and energy prices, rose 6.0%.

This suggests that inflation may be starting to moderate, which could give the Fed more room to ease monetary policy in the coming months.

The positive sentiment in the markets was also supported by gains in oil prices.

Brent crude oil futures rose 0.6% to $83.41 per barrel, while U.S. West Texas Intermediate crude futures rose 0.85% to $79.46 per barrel.

The gains in oil prices were driven by concerns about supply disruptions in the Middle East.

The market is also awaiting the outcome of the European Central Bank’s meeting on Thursday.

The ECB is expected to raise interest rates by a quarter-point, but the market is also expecting the central bank to signal that it will end its tightening cycle in the coming months.

Overall, the market is sensing that the most aggressive phase of the global tightening cycle is over.

This is giving investors more confidence to buy stocks, and it could lead to further gains in the coming months.

Meta Platforms, the parent company of Facebook, reported a strong rise in advertising revenue, topping Wall Street targets.

This helped to lift the Nasdaq Composite index, which is heavily weighted towards technology stocks.

The company’s shares rose 6.8% in after-hours trading.

The strong results from Meta Platforms suggest that the advertising market is still healthy, even as the economy faces some headwinds.

This is good news for other technology companies, which also rely on advertising revenue.

The positive sentiment in the markets was also supported by data showing that Chinese property stocks are rebounding.

The Hang Seng index in Hong Kong rose 2.4%, led by a surge in Chinese property stocks.

This is a sign that investors are starting to feel more confident about the Chinese economy.

Overall, the market is in a positive mood on Thursday, as investors bet that the most aggressive phase of the global tightening cycle is over.

This is giving investors more confidence to buy stocks, and it could lead to further gains in the coming months.