Risk On!

Risk markets still basking in the Glow of  news wire comments that both China and U.S. are trying to restart talks in hopes of Ending trade war.Soybeans +3%,NDX + .3%,SPX +.5%,JPY -.8%  and the Yuan  +.5%.

Soybean Speculators via managed Money  Holdings turned net Short last week for first time since March and May Provide fuel for the rally if talks do lead to end of Trade spat.Wheat not Impacted by trade war saw More evidence of a smaller worldwide Crop as Ukraine cut size of her Crop,Wheat +.7%.Bonds have given back some of their gains but still solidly in the green as Month End Forces  maybe preventing bond to dip much before today session is over.Today’s Employment cost index and PCE were dollar negative and  Bond friendly may also be providing a floor underneath treasury prices.

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