Daily Morning Call

From the Floor: 'Trump trade' making a tentative return — #SaxoStrats

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US stocks led Asia higher overnight as investors revived dimming hopes of Trump-led tax reform in the US. Meanwhile, markets are subdued ahead of the Jackson Hole summit with the bias being towards no new hawkish comments.

   • Risk-on sentiment drives US, Asian equities higher
   • New Zealand trims surplus forecasts, growth outlook
   • Oil whipsaws on Libyan unrest, inventories up today
   • 'I'd prefer to look lower' on EURUSD: Hardy
   • Gold trade risking long liquidation on high exposure
   • Bond market 'in sleep mode' ahead of Jackson Hole: Fasdal