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.

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.

A deal with China is a relief to investors who worried 145% tariffs would severely limit trade, raise prices and hurt the US economy.