00:00Wall Street's three major indexes rallied sharply on Monday,
00:05with the S&P 500 hitting its highest levels since early March.
00:10This happens as a US-China agreement to temporarily slash tariffs
00:14brought some hopes for the easing of a global trade war.
00:19The US and China announced on Monday that they would slash steep tariffs on each other for 90 days.
00:25The US said it will cut tariffs imposed on Chinese imports to 30% from 145%,
00:32while China said it would cut duties on US imports to 10% from 125%.
00:38Investors showed some relief by favoring riskier assets and turning away from more defensive bets.
00:45But they were still left waiting for clarity on where tariffs would ultimately settle.
00:51Investors got a much-hoped-for reprieve with some positive news.
00:54And in the trade front, now we're going to see stocks close the day up pretty precipitously.
01:00We'll also see the dollar strengthen against the euro.
01:03And we see bonds slide, which sort of, I think, is the tell that investors need to
01:07take as a dose of medicine with some of the good news.
01:10All of these correlations are holding together.
01:12Stocks are rebounding.
01:13But the bond market is still flashing a sign that this is great news for the next 90 days.
01:18But they're growing a little bit tired of these 90-day extensions.
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