Global stocks climbed after President Donald Trump suspended plans for tariffs on Mexico. Sovereign bonds fell, along with Gold and the Japanese Yen, as demand for havens ebbed. The S&P 500 Index rose for a fifth straight session, led by chipmakers, retailers and auto companies, though ended off its highs of the day. Emerging-market shares jumped the most since January as Mexico’s Peso posted its best day in almost a year after the accord with the U.S. late Friday. The US Dollar edged higher while the onshore yuan fell to its weakest level since November after China’s central bank hinted it could fall further. The benchmark U.S. gauge reached the highest in a month, recovering from a painful rout in May, as large takeover deals Monday provided additional support. But the giddiness was tempered as investors looked toward the next developments in the U.S.-China trade showdown. Treasury Secretary Steven Mnuchin has said the “main progress” on trade may occur when presidents Trump and Xi Jinping meet at the G-20 summit later this month, while finance chiefs over the weekend warned about escalating risks from geopolitical tensions.
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