The United States began imposing 15% tariffs on a variety of Chinese goods on Sunday and China began imposing new duties on U.S. crude oil, the latest escalation in their trade war.
“We have so many problems around the world, starting from the U.S.-China trade war and Brexit. But investors appear to be getting used to be exposed to them,” said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management Although U.S. manufacturing activity has been slowing in recent months, the ISM’s index has so far stayed above 50, pointing to growth in the sector.The 10-year U.S. Treasuries yield rose 2.5 basis points to 1.532% US10YT=RR, off a three-year low of 1.443% touched last week. The yield dropped 51.5 basis points last month, the biggest monthly drop since August 2011., after having dropped 0.85% on Monday. The currency stood just above its 2 1/2-year low of $1.2015 hit on Aug. 12.
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