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Overview: The heightened tensions between the US and China sapped risk-appetites before the weekend, but appear to be missing in action today. Equity markets have rebounded strongly. Nearly all the equity markets in the Asia Pacific region rose (India was a laggard) led by an almost 3% rally in Australia, which was seen as particularly vulnerable to the Sino-American fissure. The Nikkei is approaching its 200-day moving average as it reached the best level since March 5. Europe's Dow Jones Stoxx 600 is up around 1% after a 1.5% gain yesterday. It is at its