Risk Appetite Improves On US-Japan Trade Deal
A modest improvement in risk appetite is washing across markets after a trade deal between the US and Japan proved less economically-damaging than feared. The dollar and Treasury yields are holding steady, North American stock indices are printing gains at the open, and risk-sensitive units like the Australian and New Zealand dollars are climbing against their peers. In a social media post last night, President Donald Trump announced a deal that would set tariffs at 15 percent on imports of most Japanese products into the United States—a threshold lower than the 25 percent previously threatened. Under what Trump called the...