The new trend high in the AUD index tells us where we stand in the US-China trade deal saga, with optimism reigning again on the back of a headline by China’s Commerce Minister stating that it has reached a compromise with the US “in principle” to cancel some of the existing tariffs. It didn't really matter that Bloomberg and Reuters came out with conflicting reports about the veracity of the news, the market never looked back. Testament of the funky mood can be seen in the punchy moves in both the S&P 500 (new all-time highs) and the US 30-year bond yield (at one stage more than 5% higher), reinforcing the ... (full story)