Bonds & Stocks
Wall Street stocks rose amid optimism about US-EU trade negotiations, with the S&P 500 up about 1% and Nvidia Corp. pacing gains in megacaps.
Economy
President Donald Trump agreed to extend the deadline for the European Union to face 50% tariffs until July 9 after a phone call with Commission President Ursula von der Leyen.
World
A rally in Japanese bonds rippled around the world amid signs that the nation’s authorities are looking to re-establish stability after a tumultuous period for the market. Long-dated debt led gains, with 30- and 40-year yields in Japan dropping about 20 basis points. Rates on 30-year Treasuries and gilts fell nine basis points to 4.95% and 5.39% respectively, the lowest levels in a week. European bonds also rallied.