Stocks were up and yields were down in the US and European markets. This comes on the back of ECB President Mario Draghi’s statement that the ECB is ready to cut interest rates and will go further if needed. In addition, we had a tweet from President Trump claiming that he had a phone conversation with President Xi and that the two world leaders are scheduled to meet at the G-20 meeting at the end of June to hold “extended discussions.” The markets loved the news and rocketed upward with major US and European indices gaining 1-2%. Meanwhile, negative yielding debt is nearing the $12 trillion mark and rates are being even further suppressed due to the global dovish tone from world central bankers. Tomorrow the FOMC concludes their two-day meeting and we shall see what the Fed does and says. You can be sure that the markets are waiting on pins and needles.