Global wrap in a snapshot: yen and dollar lower, Xi eased trade war fears

Analysts at ANZ explained that the risk on returned after President Xi eased trade war fears in his speech yesterday. 

Key Quotes:

"A second wind followed after president Trump took to twitter to thank Xi for his kind words."

"Global equities surged, yields bear flattened, and safe haven currencies fell." 

"European bourses finished the day up 0.7%-1.1% and at the time of writing the Dow Jones and S&P 500 were up 1.7%." 

"The dollar fell against the commodity block with JPY underperforming."

"The 2 year treasury yield was up 3.3bps while the 10 year rose 1.7bps."

"Gold rose 0.4% and oil spiked higher after it was reported Saudi Arabia is looking for oil at $80/bbl."