Turn around on trade war but downturn in Germany

The markets have done a complete u-turn overnight on the back of positive news on the US China trade talks and some wins from the G7 summit, including proposals to reform WTO rules and a potential US Iran meeting. NAB’s Tapas Strickland talks through the headlines that have driven increases in US equities and the US dollar. Phil Dobbie asks him whether it could all backfire it the US President changes his mood once he’s off European soil. Certainly, markets are being driven by headlines more than data although German IFO numbers highlighted the extent of the slowdown in their economy.

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