Market Commentary: Thursday 10th April

Good morning,

Treasuries and stocks continued to rally following the tariff pause announcement yesterday.

Asian stocks posted their biggest jump in more than two years, and European index futures surged almost 8%.

The Chinese stock rally was primarily driven by expectations for more stimulus after Trump increased levies to 125%.

Gold has continued to push higher overnight and is now sitting back near all-time highs.

The USD is down, with the euro and sterling up 0.3%, and the yen up 0.7%.

Cryptos are down, having retraced some of late yesterday’s gains:

• Bitcoin fell 1.3% to $82,098.84

• Ether fell 3.4% to $1,615.57

Finally, we have some meaningful scheduled data releases today, with US Core CPI due later.

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