Market comment | Markets consolidate recent gains

Summary

Market sentiment remained positive, amid fresh US-China trade developments and the ease of coronavirus-related economic fears. Robust company’s earnings results also boosted equity markets. Elsewhere, investors were cautious following tomorrow’s U.S labor market report.

Key points

• Key points:
• China will halve tariffs on $75bn worth of U.S. imports as it moves to implement “phase one” deal.
• Sovereign bonds yields consolidated yesterday’s gains.
• Oil prices erased early gains due to the lack of agreement on production cuts.
• Equity markets extended yesterday’s rally, with the S&P500 reaching new record highs.

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