Market Brief, North America

Financial markets are turning more cautious this morning as traders process the implications of an unexpectedly-divided Federal Reserve decision, news of a tentative trade truce between the US and China, and a mixed slate of earnings from the world’s largest technology firms. The dollar is maintaining yesterday’s advance, ten-year Treasury yields are holding near 4.06 percent after posting their biggest one-day gain since July, shares in Meta and Microsoft are selling off ahead of the open after both companies said they were increasing spending on artificial intelligence infrastructure, and Alphabet is gaining after it reported a stronger-than-expected performance in its...

Global financial markets are starting the week on a buoyant note, with risk-sensitive assets climbing amid hopes of a more lasting thaw in US-China trade relations. The dollar is retreating, benchmark Treasury yields are pushing lower, and equity futures are rising after negotiators on both sides said they had made significant progress on issues including tariffs, fees, and export controls in the weekend’s bilateral discussions in Kuala Lumpur. Treasury Secretary Scott Bessent noted that a “very successful framework” had been established ahead of this week’s meeting between President Trump and Xi Jinping. The Canadian dollar is—somewhat counter-intuitively—pushing higher even after...