Markets adopted a cautiously positive assessment of US-China trade-related headlines overnight. US equities recovered further, the S&P500 currently up 0.7%, Nasdaq +1.3%. Bond yields are slightly higher, while the US dollar is slightly lower.

Risk sentiment improved. US equities rose, partly helped by US officials downplaying the chances of action against Amazon. US bond yields and the US dollar also rose.

Risk sentiment improved. US equities rose, partly helped by US officials downplaying the chances of action against Amazon. US bond yields and the US dollar also rose.

US equities tumbled on Monday, with tech stocks faring worst. The S&P500 is down 2.8% to a two-month low, bond yields are lower, and the US dollar is slightly higher. Possibly contributing to the moves were the announcement of retaliatory tariffs by China and Trump’s criticism of Amazon.

US equities tumbled on Monday, with tech stocks faring worst. The S&P500 is down 2.8% to a two-month low, bond yields are lower, and the US dollar is slightly higher. Possibly contributing to the moves were the announcement of retaliatory tariffs by China and Trump’s criticism of Amazon.

US equities tumbled on Monday, with tech stocks faring worst. The S&P500 is down 2.8% to a two-month low, bond yields are lower, and the US dollar is slightly higher. Possibly contributing to the moves were the announcement of retaliatory tariffs by China and Trump’s criticism of Amazon.

The US dollar rose, while bond yields and equities were volatile but net unchanged. As was the case yesterday, the causes of this price action were not obvious, apart from perhaps month-end and quarter-end rebalancing.

The US dollar rose, while bond yields and equities were volatile but net unchanged. As was the case yesterday, the causes of this price action were not obvious, apart from perhaps month-end and quarter-end rebalancing.

Mixed performances among asset classes – US equities little changed (although tech stocks fell), US dollar higher, and US bond yields lower – may have been related to month-end and quarter-end rebalancing.

Mixed performances among asset classes – US equities little changed (although tech stocks fell), US dollar higher, and US bond yields lower – may have been related to month-end and quarter-end rebalancing.