European Bonds Sell Off Amid German Market Swings: Markets Wrap
- German bonds sink most since aftermath of Berlin Wall’s fall
- Trump to delay Canada, Mexico auto tariffs for one month
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A late-session runup in US stocks capped another volatile day for global markets, a session that also featured extreme moves in European bonds and equities. Geopolitical news dominated sentiment once again, including a delay in the imposition of auto tariffs in Canada and Mexico by the White House.
Wall Street remained focused on the latest developments around trade negotiations and how that could impact the economy and Federal Reserve decisions. The S&P 500 rose over 1%, rebounding from a two-day slide. Treasuries saw small losses in a stark contrast to the plunge in their European counterparts. German bunds tumbled the most since 1990. The dollar fell 1%. Oil sank to the lowest in about six months.