 Dollar and Yen are generally softer today following notable rebound in German and US treasury yields. ECB meeting accounts confirmed the divided opinion among policy makers on the stimulus package, in particular QE. That gives a strong support in both Euro and German bund yields. Meanwhile, solid core CPI from US also support US yields. Yet, markets are cautiously awaiting top-level US-China trade talks, which finally starts today. Chinese Vice Premier Liu He was quoted saying that the team came with "great sincerity, willing to cooperate with the U.S. on the trade balance, market access and investor protection". He also hoped to prevent further escalation in trade tensions. But there were also reports noting that China is not going to offer any resolution to core issues, including intellectual property theft, forced technology transfer, subsidies to state-owned enterprises and enforcement of the agrement. It remains to be seen whether the two day meetings would end with some progress or just an old deadlock. In other markets, DOW open up and is trading up 0.7% at the time of writing. FTSE is up 0.21%. DAX is flat. CAC is up 0.37%. German 10-year yield is up 0.0698 at -0.476. Earlier in Asia, Nikkei rose 0.45%. Hong Kong HSI rose 0.10%. China Shanghai SSE rose 0.78%. Singapore Strait Times dropped -0.01%. Japan 10-year JGB yield dropped -0.0067 to -0.212. |
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