World Markets Up On Fannie Freddie Bailout

World equities markets rallied and Treasury prices tumbled after the US government seized control of Freddie Mac and Fannie Mae.

The MSCI World added 1.7 percent to 1,290.25 at 11:40 a.m. in London as all 10 industry groups except for health-care companies rose. Europe's Dow Jones Stoxx 600 Index and the MSCI Asia Pacific Index each climbed the most since January, advancing 3.9 percent and 4.5 percent, respectively

U.S. stock futures were also higher across the board. Roughly  one hour before the start of trading, the Dow industrial futures climbed 251 points to 11478. S&P 500 futures advanced 33.9 points to 1275 and Nasdaq 100 futures rose 35.5 points to 1805.5.