There has been a pick-up of sentiment in the past few days which has helped to pull a near term improvement in risk appetite. The question is whether these trends are sustainable. Better than expected Chinese services data got the ball rolling and since then we have seen reduced expectation of a chaotic Brexit, an attempt to diffuse the civil unrest in Hong Kong and now better news on the trade dispute. The US and China have agreed to meet to discuss trade in October. This has allowed bond yields to tick slightly higher (the US 2s/10s spread is currently +2bps positive), dragging on safe haven assets (gold and the ... (full story)