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Markets Today: Double Deal - did the markets overreact?
podcast Optimism was the catch cry for markets on Friday with a partial US-China trade deal, positive Brexit comments, further details on the Fed’s latest balance sheet expansion, and a stellar Canadian jobs print to boot. In the words of Foster the People’s 2010 hit, the market certainly had its share of “Pumped Up Kicks” on Friday. Stocks rose strongly with the S&P500 up 1.1% to 2.970. Yields also spiked higher with US 10yr yields +6.1bps to 1.73%. The biggest move in yields occurred in the UK with 10yr Gilts +11.6bps to 0.705% with positive Brexit developments driving. Those sentiments put a rocket ... (full story)