Today we look at the boost to sentiment after a weak session in the US yesterday as China’s Xi and US president Biden spoke on the phone late yesterday. Elsewhere, yields have dropped sharply after a relatively dovish ECB and another strong US treasury auction, this time the 30-year T-bond. In commodities, relative precious metal action is in focus, while our equity focus for the day is on the compelling story of India, and whether the ESG outperformance is something we can hang our hats on. Today’s pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.