SYDNEY: Asian share markets jumped on Friday as a last-gasp Sino-U.S. trade deal and a likely major election win by Britain's Conservative Party looked to have cleared a couple of dark clouds from the global horizon.
The pound hit its highest since mid-2018 as UK exit polls seemed to rule out a shock win by the left-wing Labour opposition, and could help clarify the outlook for Brexit. China also has agreed to make US$50 billion in agricultural purchases in 2020 as part of the deal, that person and another U.S. source familiar with the talks said.
That was bad news for bonds and yields on U.S. 10-year Treasuries shot up to 1.95per cent, a rise of 16 basis points in just two sessions.
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