On Friday night OPEC confirmed plans to increase oil output next month, triggering a big jump in oil prices (Kriss Kross one hit wonder, Van Halen or Rihanna?), fuelling energy shares on either side of the Atlantic while also boosting commodity linked currencies with AUD the outperformer. It was a quiet night for bonds and the USD was broadly weaker with the euro helped by solid PMI prints. On Sunday the PboC cut the reserve ratio requirement to boost China’s economic growth, amid signs of activity slowdown and heightened trade tensions with the US. This morning Trump has ramped up protectionism via tweets and ... (full story)