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Mutual Fund Report for SPFAX

WASHINGTON (Reuters) -Donald Trump's tariff blitz is yielding some initial deals, including a 90-day pause in sky-high U.S. and Chinese duties and a limited trade pact with Britain, but the U.S. president is far from rebalancing global commerce flows, trade experts and analysts said. The weekend U.S.-China tariff truce unleashed a surge in global stock prices and may stave off damage from price spikes and critical minerals shortages until August, but does nothing to address longstanding U.S. complaints about China's state-dominated, export-driven economic model. Instead, it sets a tight new deadline for complex negotiations with Beijing that will take place alongside talks with dozens of other countries facing an earlier, July 8 deadline to avoid higher tariffs - stretching the Trump administration's limited negotiating resources.

LONDON (Reuters) -Global asset managers held their biggest underweight position in the dollar in 19 years in May, as President Donald Trump's chaotic trade policy cut investor appetite for U.S. assets, Bank of America's global fund manager survey (FMS) showed on Tuesday. The United States and China have agreed to a 90-day trade truce, after weekend talks in Geneva to break the deadlock between the world's two largest economies. Fund managers cut their cash levels to 4.5% from 4.8%, often a sign of confidence, but held the largest underweight position in the U.S. dollar since May 2006, the bank said.

An infrequent event for Wall Street's benchmark index can be a generational opportunity for investors.

(Bloomberg) -- Chinese stocks fell in Hong Kong on Tuesday, as initial optimism from the tariff truce with the US gave way to concerns that Beijing would hold back on stimulus measures.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fi

Officials in Beijing have started to tell domestic carriers and government agencies this week that deliveries of aircraft made in the U.S. can resume, Bloomberg said. In April, at least three jets at Boeing's delivery center in China were returned to the United States. Boeing said customers in China would not take delivery of new planes due to tariffs, and it was looking to resell potentially dozens of aircraft.

Recent US tariffs and worldwide economic tensions are likely to contribute to subdued economic growth in several key European economies and regions.View on euronews

FRANKFURT (Reuters) -The European Central Bank will stand by its aggressive stimulus policy of the last decade in a strategy review, side-stepping calls for self-criticism after a bout of high inflation and sizeable losses, several ECB policymakers told Reuters. The review, which began in March, will address some big questions about the way the ECB works, including whether massive bond purchases, negative interest rates and giving guidance on the future path for rates remain good policy tools. Conversations with ECB policymakers suggest the euro zone's central bank will largely endorse its past largesse, making only minor changes to a strategy document that was last updated four years ago.

(Bloomberg) -- Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for havens.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fire Aid, Stays Wary on ImmigrationBullion traded near $3,240

Six weeks into the turmoil spurred by U.S. President Donald Trump's "Liberation Day" tariffs, the recurring lessons seem to be: wait for the details and buy the dip. And while a Trump social media post on Sunday about high U.S. drug prices caused a massive selloff in Japanese pharma shares on Monday, the actual executive order puts the bullseye more on cheaper drugs overseas, prompting a bounce back in healthcare stocks on the Nikkei. Trump's comments about a pricey "fat shot drug", presumably speaking of injectable obesity treatments from Novo Nordisk and Eli Lilly, could mean pressure for cost cuts in the U.S. or increases in Europe.