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Daily Recap

N. Korea's surprise claim that they never expressed interest in denuclearization, endangering the possibility of a summit meeting with the US, had no apparent impact on markets outside of Asia. Stocks were only moderately lower there, with the Asia Dow finishing down a paltry 0.07%. In Europe, Italian chaos sent that country's stocks and bonds sharply lower, but that didn't keep most other markets from having a decent day. The UK's FTSE scored four-month highs, leading the STOXX 600 to a 0.21% gain.

US stocks traded about unchanged in the morning, but started rallying before noon on increased optimism over trade issues, higher rates, and – oh yeah – N. Korea's 180 degree turn. Or perhaps just the US administration's mistaken perception of what was really going on.

Fixed income assets rallied in the am, but then sold off to send yields up once again to new seven-year highs. The 10-year US ... Log in or subscribe to continue reading.

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