It is far from clear that the US sanctions against nine Iranian officials, with the foreign minister to be added later brings negotiations any closer. At the same time, US officials trying to keep expectations low for the weekend meeting between Trump and Xi. The heightened political anxiety will have to make room for Fed Chairman Powell's talk in NY. The market is confident of at least a 25 bp cut at the next FOMC meeting at the end of July. Stocks are pulling back today. Most of the major markets in Asia Pacific fell, with India a notable exception. Europe's Dow Jones Stoxx 600 is off for a third session, its ... (full story)