Global stock markets enjoyed relative stability with tendencies for price rises on Monday as Steven Mnuchin, United States Treasury Secretary, stated that the U.S.-China trade war was currently put “on hold” after the two largest economic powers in the globe agreed to drop their tariff threats while they worked on a more expansive trade agreement.
S&P mini futures went up 0.6 percent in early Asian trade on Monday. Japan's Nikkei climbed 0.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.1 percent in early trade.
U.S. 10-year Treasuries yield went up by 1.5 basis points to 3.082 percent, close to the seven-year high of 3.128 percent hit on Friday.
Oil prices went up on Monday easing trade tension between the U.S. and China. Brent crude futures closed at $78.87 per barrel at 0045 GMT – 36 cents, or 0.5 percent, higher in comparison to the previous session. Brent was able to cross the $80 barrier last week, which was the first time since November 2014. U.S. West Texas Intermediate (WTI) crude futures climbed by 0.6 percent (40 cents) and settled at $71.68 a barrel.
Wi the sense of optimism that characterizes the market at the moment, analyst predict that the price of oil will keep stable and may even continue to rise.