Global Markets Leap, Treasury Yields Ease After Trump Pauses Tariffs

By Dow Jones Newswires StaffGlobal stock markets jumped and Treasury yields eased after President Trump's announcement of a 90-day pause on higher-targeted tariffs for most countries, even as he doubled down on China. Ahead, U.S. CPI will be a focus of investors' attention.European Union chief Ursula von der Leyen welcomed U.S. President Trump's decision to pause planned tariffs on goods from other countries that sent markets reeling. "It's an important step towards stabilizing the global economy," she said in a statement.China earlier pledged to accelerate talks with the European Union as Beijing looks to forge closer ties with trading partners.U.S. Treasury yields dropped in early European trading hours, reversing from Wednesday's double-digit increases. The 10-year Treasury yield was recently down 11 basis points at 4.287% and the 30-year Treasury yield was also down 10 basis points, according to Tradeweb data.Equities markets across Asia ended sharply higher and European stock markets leapt at the open, even as U.S. futures eased following Wall Street's rally. South Korea's benchmark Kospi rose 6.6% to close at 2445.06, Australia's S&P/ASX 200 closed 4.5% higher, bolting to its highest gain since March 2020. Chinese shares ended higher in anticipation of stimulus measures to be announced soon despite Trump's increase to U.S. tariffs on China to 125%.In Europe, the Stoxx Europe 600 gained 6.9% in morning trading, the FTSE 100 added 5.5%, France's CAC 40 increased 6.8% and Germany's DAX climbed 7.3%. Bank, technology and pharmaceutical shares were notable risers early in the European trading day.The dollar fell with the remaining tariffs still likely to be a significant hit to the U.S. economy. The DXY dollar index against a basket of major currencies was recently down 0.2% to 102.644.Oil prices retreated after a brief rally. Benchmark Brent crude fell 1.4% to $64.58 a barrel, having settled 4% higher on Wednesday.Gold futures rose 1.6% at $3,127.20 a troy ounce, nearing the all-time record of $3,201.60/oz, set in early April.Write to Barcelona Editors at [email protected]