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Stocks cheer trade reprieve, bonds reconsider rate cuts

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Stocks rallied while bonds retreated in Asia on Monday as a thaw in the Sino-U.S. trade dispute tempered risks to the global economy, leading ...

LONDON/SYDNEY: Stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks, leading investors to pare wagers on aggressive policy easing by the major central banks.

These included no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing. China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table.Advertisement E-Mini futures for the S&P 500 and Nasdaq rose 1.1per cent and 1.7per cent each too whereas in the bond market Treasury futures slid 10 ticks as yields on 10-year notes edged up 4 basis points to 2.04per cent.

Surveys from Japan and South Korea showed similar slowdowns as did the 19-country euro zone's reading which contracted for fifth month running and at a faster pace than previously thought.

 

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