With the Fed in the rearview, markets jump on signs that Trump wants trade deals with China and U.K.

• Global markets rallied broadly this morning after the U.S. Federal Reserve kept interest rates on hold yesterday and Fed chairman Jerome Powell made it clear he would pursue monetary policy, and fight inflation, independently of President Trump’s desires for lower interest rates. Investors in Europe and Asia were also cheered by news of an incoming trade deal between the U.S. and the U.K. and ongoing talks with China.

China’s CSI 300 was up 0.56% this morning on news of trade talks between Washington and Beijing happening this weekend. All major Asian indexes followed suit with the exception of India’s Nifty 50, which declined 0.34% this morning as the armed conflict between that country and Pakistan remains unresolved.