Market Comment | Risk aversion continues to ease in light of trade developments

Summary

Sovereign bond yields extended yesterday’s gains amid U.S. consideration to rollback tariffs and better-than-expected ISM non-factory figures.

Key points

• Key points:
• The 10Y UST bond yield climbed significantly.
• The Chinese yuan strengthened to levels below 7 per U.S. dollar intraday.
• The S&P 500 trimmed early gains as mixed earnings offset trade optimism.

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