UUP - Dollar Thumped On Confirmation Of Tariff Delay While Stocks Advance
Overview: The extension of the US-China tariff freeze had been telegraphed, but the confirmation is the single biggest driver of the day. Equities, led by a 5%+ advance in China, have rallied in Asia and Europe. Benchmark 10-year bond yields are mostly 1-2 basis points higher. Peripheral yields are lower. Fitch's decision before the weekend, affirming Italy's rating, helps ease fears ahead of Moody's (March 15) and S&P (April 26) reviews. The dollar is softer against nearly all the major and emerging market currencies. Oil and gold are firmed, while the threat of expanding strike