Market Comment | Markets takeoff on Trump’s “big deal” tweet

Risk-on mood surged at the end of the European trading session after the US offered to roll back some of the existing tariffs on Chinese goods. Separately, both the Fed and the ECB left their benchmark interest rates unchanged as expected.

Key points

• Key points:
• Sovereign bond yields jumped sharply.
• Stock markets rallied with the banking sector leading the gains.
• The Japanese yen underperformed its G10 peers, while the pound depreciated on the British election uncertainty.

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