<h1>US-China trade deal announcement spurs markets as tariff uncertainty and central bank nomination signals affect yields and prices.</h1> Announcement of a US-China trade deal prompted market gains despite unspecified terms, while persistent tariff policy uncertainty continued to shape expectations about corporate costs, import distortions, and inflation. Simultaneous reports about a possible accelerated nomination to replace the Federal Reserve Chair influenced perceptions of central bank independence and drove movements in Treasury yields and currencies, linking trade and monetary-policy signals to equity performance and commodity price changes.