China bond yields, stocks up as Beijing signals policy shift

Trump blasts Fed, threatens to put tariffs on all Chinese goods

Trump blasts Fed, China and Europe for putting US economy at a disadvantage

USD/CHF: The Swiss franc rallied to a 2-week peak as worries over trade tensions lingered following Washington's threat last week to impose tariffs on $500 billion of Chinese imports.

Trump repeated his criticism a day earlier of the U.S. Federal Reserve's policy on raising interest rates saying he is concerned the central bank will raise interest rates twice more this year, a White House official told CNBC.

China trade surplus with US hits historic high & timing couldn't be worse As the US-China trade war escalates, the latest trade numbers appear to back Washington's biggest gripe with Beijing. That yield curve "steepening" accelerated on Monday, with yields on 30-year Treasuries 0.46 percentage point higher than their 2-year counterparts, the biggest gap in almost a month.

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It was last down 0.2% at 94.27, the lowest in more than two weeks.

In turn, the Trump administration accused China of not negotiating "seriously" on trade and released on Tuesday a list of $200 billion worth of Chinese exports that could be subject to new 10-percent tariffs.

MSCI's gauge of stocks globally.MIWD00000PUS shed 0.01 percent, with equities broadly lower across Europe, Japan and emerging markets. "It does feel like we are hearing far too much from the President's Twitter account at the moment and the market is not receiving many of his comments well", said Nick Twidale, analyst at Rakuten Securities Australia.

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Against the yen, the dollar traded at 110.98 after dipping as low as 110.74 earlier in the session following a media report that the Bank of Japan was engaging in "unusually active discussions" ahead of its July decision. The Reuters report also added to the yen's strength, which was last up 0.3 percent at 111.07 per dollar. In some relevant currency pairs, the Japanese Yen returned to vogue as traders sought safe havens, falling from above 1.13 all the way back to 111.40 against the USD at time of writing; and the AUD/USD rebounded 0.7 per cent following two days of being trounced to now trading back over the 0.7400 handle.

China's ministry of commerce stated that it was shocked by Trump's threats and that it would file a complaint with the World Trade Organization and, while it did not immediately say how it would respond, the ministry called Trump's threats completely unacceptable.

U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. Brent eased 17 cents to $72.90.

Images indicate North Korea dismantling facilities at test site
But late last week in meetings with his aides, Trump bristled about the lack of positive developments in the negotiations. He even called Kim a "talented man" on the occasion, replacing the more aggressive terminology of "rocket man".

Spot gold was little changed near a one-week high at $1,229 an ounce while USA gold futures for August delivery were marginally lower at $1,229.80 an ounce.

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