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Risk On! But Will It Last?

Risk On! But Will It Last?
Federal funds rate chart

Investors sold off safe havens and poured into equities today on news that China and the United States had agreed to remove some tariffs simultaneously if a ‘phase one’ trade deal could be achieved.

The bond market was hit heavily as the ten year note approached the 2.00% yield for the first time in months.

Weekly jobless claims came in at 211k vs 218 last week.

At the end of the trading day however, some of the air went out of the equity balloon as rumors came out of The White House that there was significant internal opposition to tariff removal.

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