Global equity markets surged as sentiment improved around a potential trade truce between the US and China and expectations of imminent rate cuts by major central banks. Asian exchanges led the move, with Japan’s Nikkei crossing 50,000 for the first time. The rally saw safe-havens like gold retreat and bond yields rise modestly. While optimism is strong, analysts caution that durability depends on execution of trade agreements and confirmation of growth data—not just headline deals. Markets may have priced in much of the good news already.