A more risk-friendly atmosphere returned to markets, US-China trade tensions appearing to ease, with US Treasury Secretary Mnuchin voicing optimism a deal could be reached. The S&P500 is up 2.1% and the US dollar is lower.

The risk averse mood intensified on Friday, the S&P500 down 2.1%, gold higher, and the USD and bond yields lower. China started to retaliate against the US’ imposition of trade tariffs.

The risk averse mood intensified on Friday, the S&P500 down 2.1%, gold higher, and the USD and bond yields lower. China started to retaliate against the US’ imposition of trade tariffs.

The risk averse mood intensified on Friday, the S&P500 down 2.1%, gold higher, and the USD and bond yields lower. China started to retaliate against the US’ imposition of trade tariffs.

A risk averse mood prevailed in the wake of the FOMC’s rate hike and the US initiating tariffs on imports from China. Equities and bond yields are lower, the S&P500 down 1.3% currently.

A risk averse mood prevailed in the wake of the FOMC’s rate hike and the US initiating tariffs on imports from China. Equities and bond yields are lower, the S&P500 down 1.3% currently.

The Federal Reserve raised its policy rate by 25bp to 1.625% and sounded upbeat about the economic outlook, an outcome which was largely expected. Bond yields rose slightly in response, but the US dollar remained depressed.

The Federal Reserve raised its policy rate by 25bp to 1.625% and sounded upbeat about the economic outlook, an outcome which was largely expected. Bond yields rose slightly in response, but the US dollar remained depressed.

US bond yields and the US dollar firmed ahead of the FOMC decision, while equities were calmer.

US bond yields and the US dollar firmed ahead of the FOMC decision, while equities were calmer.