Global financial markets remain in fragile risk on mode following last week’s announcement that US and Chinese trade negotiators would meet again in early October. While kicking the can down the road and past China’s Golden Week Holiday, we maintain the view that the road to a deal remains littered with obstacles. On that basis September could end up being the month of calm before renewed tensions emerge with the US raising tariffs again on October 1 while the two countries may continue to struggle with the 20% of a deal that currently keeps them separated. Gold’s high correlation to US bond yield movements has ... (full story)