Global market snapshot: markets turn risk-on - ANZ

Analysts at ANZ explained that a risk-on night after US representatives left the door open for negotiations with China prior to the implementation of trade tariffs.

Key Quotes:

"Equities surged in Europe, up 2.4-2.9% across major indices, led by information technology. "

"All major bourses in the US were in the green: the S&P 500 is up 0.4% at the time of writing and Dow is up 0.8%."

"The US treasury curve bear steepened 1-3bps across the curve (with the 10-year yield up 2bps to 2.83%), while yields globally were up 1-5bps."

"The USD appreciated against all but CAD in the G10 with NAFTA optimism still being priced into the latter. GBP underperformed after the weaker-than-expected services PMI was released, while JPY fell on better risk sentiment. At the time of writing oil is relatively stable (WTI +0.4% to USD63.63), with gold down 0.6% to USD1325/oz."