Global stock markets rallied, led by strong U.S. performance and optimism around easing trade tensions between the U.S. and China. AP News+2Reuters+2
A popular narrative in markets is the so-called “debasement trade” — investors buying gold, crypto or stocks because they fear the U.S. dollar will be eroded by fiscal deficits and inflation. But analysts say the data don’t fully support a dramatic breakdown of the dollar yet. Reuters
The International Monetary Fund (IMF) has warned that U.S. equities (heavily concentrated in big-tech) may be exposed to a “sharp correction,” especially if those large companies falter and non-bank financial institutions are under stress. The Guardian
In the Middle East, the CME Group is seeing a surge in trading activity; volumes from the region are rising significantly as hedge funds open in Dubai and Abu Dhabi. Financial Times+1
