Let’s make a deal
• Dealmaker. Trade optimism supported US equities & USD at end of last week. AUD & NZD drifted a little lower. EUR ticked higher this morning.• US/EU deal. Over weekend US/EU announced a 15% tariff framework. Deal is similar to US/Japan. More ‘stability’ but economic headwinds remain.• Event Radar. Q2 AU CPI due (Weds). In the US this week earnings season continues, Q2 GDP & non-farm payrolls are out, & US Fed meets. Global Trends There was some relative outperformance in US markets at the end of last week. In contrast to modest falls across European/Asian equities on Friday the...