May 10 (Bloomberg) — Stocks rallied around the world, sending the MSCI World Index up the most in 13 months, while Greek, Spanish and Portuguese bonds soared after European policy makers announced an almost $1 trillion loan package to end the region’s sovereign-debt crisis. The euro pared an earlier rally.

The MSCI World Index jumped 4.8 percent at 4 p.m. in New York and the Standard & Poor’s 500 Index rose 4.4 percent, the biggest gain since March 23, 2009, for both. Spain’s IBEX 35 Index surged a record 14 percent. The premium demanded to hold Greek 10-year bonds instead of benchmark German bunds slid by 484 basis points. Oil snapped a four day slump. Gauges of stock- market volatility slid by records while Treasuries, the dollar and gold fell as demand for safer assets decreased. The euro, which topped $1.30 earlier, traded near $1.28.

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Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
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