Wall Street soared on Monday, after a surprise trade truce between U.S. and China gave a massive boost to sentiment. Market participants piled into risky equities and shunned bonds, sending U.S. Treasury yields lower.

Stocks rallied Monday after China and the United States announced a 90-day truce in their trade war. Each of the world’s two largest economies agreed to take down temporarily most of its tariffs against the other,

U.S. stocks soared Monday after Washington and Beijing struck a surprise deal to dramatically cut tariffs, marking a rare moment of clarity and good news in an otherwise volatile environment.