The art of the deal
• Tariff news. US/UK trade deal ‘framework’ unveiled. Baseline 10% tariff remains. Many details still to be worked out. US/China talks this weekend.• Upbeat markets. Equities rose as did bond yields. USD claws back more lost ground. NZD & AUD drift lower. AUD outperforms NZD, JPY & EUR.• Upcoming events. China trade data released today. Several US Fed members also due to speak. Will the USD’s recovery extend? Global Trends US trade developments remain in the spotlight. After signaling that an announcement was in the pipeline yesterday the US unveiled a ‘framework’ for a deal with the UK. A positive...