FAST FIVE: Stocks Near Record Highs As Xi Hope & Powell Hype Trump Global Economic Collapse
US equities surged in the pre-open on the Draghi and Trump-Xi comments.
Bond yields were extremely volatile.
The Dollar spiked as Draghi's comments drove the euro lower but by the close the dollar ended dovishly lower as Trump-Xi headlines hit.
Yuan spiked on the Trump-Xi call, hitting one-month highs against the dollar.
Finally, we note that global macro data is double-dipping to cycle lows – and the longest period of negative surprises in history.