The Dow Jones bounces back after its worst day of 2019 as Washington and Beijing soften their rhetoric in the trade war. Asian equities see green as fresh data shows that Japan has overtaken China in holding U.S. Treasuries. In Europe, euro zone bond yields sink to new lows after ECB board member Olli Rehn says the central bank is preparing a stimulus package for September. And the founder of the world’s largest hedge fund, Ray Dalio, tells CNBC there is a 40 per cent chance that the U.S. will fall into recession ahead of the 2020 presidential election.

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