In the wake of the Trump trade deal announcement (which has yet to be officially confirmed by China and the US), markets are – surprise, surprise – in risk-on mode. Asian equity markets are up strongly, with gains ranging from 1.6% for Shanghai to 2.6% for the Nikkei. That follows a 0.9% gain for the S&P 500 last eve, with the index closing at a record-high 3168.57 points.

 

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