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Analysts at ANZ noted the recent market developments in a global snapshot.

Key Quotes:

“US equities lifted with risk sentiment supported by Treasury Secretary Mnuchin’s commentary on China that “we’re putting the trade war on hold”.  

“The USD is mixed and treasury yields are unchanged.”  

“Volumes were generally light with holidays in some markets.  

“The Dow is up 1.0% at the time of writing with industrials leading gains, while the S&P 500 is up 0.7%. European bourses were more mixed with Italian shares declining 1.6%.”

“Yields on Italian paper continued to shoot higher with 2  year  up 17bps and 10  year  up 15bps on concerns about what the new populist coalition will mean for the fiscal books.”

“WTI oil rose 1.4% to USD72.229 on Venezuela/Iran supply concerns, while gold did the same 24-hour ‘U’ as the NZD, to be currently down 0.1% at USD1291/oz.”