Macro News
Global: With President Trump extending the deadline to raise tariffs on Chinese goods beyond this week, risk-on environment prevails in this early week with global equities on the rise. Japanese stocks are up 15% since their trough reached on December 26th, while Chinese equities are up 21% (SSE index) since this year’s low, according to Eikon Reuters. After the sharp liquidity injection from the PBoC observed last week, the recent improvement in economic data (Citi surprise index has been rising), in addition to the increase in margin debt in China,