FAST FIVE: Stocks Near Record Highs As Xi Hope & Powell Hype Trump Global Economic Collapse

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  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.

Categories: ZH