Market Euphoria? Global equity markets continue to rally on the back of continued better corporate earnings, thawing tariff concerns, highlighted by US/Japan agreeing to reciprocal tariffs at 15%, down from 25% Trump levied earlier this month. Japan rallied sharply, with the Nikkei jumping over 3.5%, taking out technical overhang at 40k. Autos were the standouts with Toyota and Honda both up sharply. Shortly after the European close, we saw headlines “US and EU [are] close in on 15% tariff de…
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