Japanese news agency Kyodo reports on a deal

Citing the economy minister, Kyodo reports that a deal will be announced imminently. Talks were scheduled to end on Thursday but were extended for three days as leaders attempted to hammer out the details of the secret deal.

Once the deal is announced it will be revealed and global governments will have one year to ratify the agreement.

It will be controversial and could have a major impact on markets in the days ahead as we sort out the winners and losers. Pharma and dairy will be particularly sensitive.