Tokyo — World stocks eased off record highs on Wednesday and US and German bond yields slipped as euphoria over a China-US trade deal was countered by US treasury secretary Steven Mnuchin saying tariffs on Chinese goods would remain in place for now.

The 18-month long trade spat should enter a quieter phase as US President Donald Trump and Chinese vice-premier Liu He sign an initial agreement that would boost Chinese purchases of US manufactured and agricultural goods, energy and services...

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