Sentiment initially remained elevated as a US-China Phase One trade deal was confirmed, but later softened as attention turned to looming Phase Two negotiations. The S&P500 initially made a record high but closed unchanged, while US bond yields and the US dollar closed lower.

Sentiment rose after US Pres. Trump said a US-China trade deal is very close. The S&P500 is up 0.6%, and US bond yields and the US dollar are higher.

Markets were contained ahead of the FOMC decision, just released, and remained so after the on-hold decision. The S&P500 is up 0.2%, and the US dollar and bond yields are slightly lower.

Markets were again contained amid mixed headlines on the likelihood of a US-China trade deal before 15 Dec. The S&P500 is unchanged, the AUD and NZD are slightly lower, and bond yields are slightly higher.

It was a quiet session for markets overnight, with no major news out. Equities, currencies and interest rates are little changed.

Sentiment was upbeat after US jobs data beat expectations. The S&P500 closed up 0.9%, bond yields and the USD also closing higher.

There was little fresh news to excite equity markets, the S&P500 unchanged. The US dollar is slightly lower, while US bond yields are slightly higher.

Sentiment rebounded on speculation that a US-China trade agreement will be reached before 15 December. The S&P500 is up 0.7% and US bond yields are higher.

Sentiment deteriorated further amid comments from US Pres. Trump that there is no deadline for a US-China trade deal. The S&P500 is down 1.0%, and US bond yields and the US dollar are lower.

3 Dec by Westpac Bank