U.S. Equities climbed after a report the U.S. is considering delaying President Donald Trump’s plan to impose tariffs on Mexico. Treasuries pared gains and the Mexican Peso rebounded from Thursday’s lows. The S&P 500 Index extended its advance as Bloomberg News reported that Mexico is pushing for more time to negotiate. Treasuries rose on speculation that major central banks will keep a dovish stance as the trade war jeopardizes growth. The Euro rallied as European Central Bank President Mario Draghi touted “somewhat better” than expected first-quarter data. Investors pushed up the value of American equities despite the tariff threat that has led several analysts to forecast increased risk of a recession in the world’s largest economy. Sentiment remained fragile, though, with a U.S. official saying the most likely outcome is still that a 5% tariff goes into effect. Goldman Sachs Group Inc. put the odds that the U.S. imposes duties on imports from Mexico at 70%, according to a note dated June 5.
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