Or is this yet another false dawn?
Markets aren't looking too far ahead just yet but investors still ought to be a little cautious ahead of a Santa Claus rally as we close out the year. The reported trade ceasefire is welcome news for risk but with differing statements following the meeting over the weekend, it's much like watching a play and seeing suspect acting on the stage.
Add to the fact that suddenly Trump tweeted about auto tariffs being waived in the last hour, it only raises more questions than it does help to answer doubts. Why wasn't this mentioned in either the US or China statements earlier? How "official" is the tweet here? Is this something agreed after or during the meeting?
No doubt the headlines are encouraging and the discussions could be more positive than what the different statements play out to be, but there is still some inkling that this isn't going to die down that easily. Not when the US statement mainly speaks of concessions made by China (IP protection, agricultural purchases, Qualcomm-NXP among those) and China's statement doesn't mention any firm commitments.
What are your thoughts on the matter? Have we finally reached a trade truce? Or is this the typical post-trade meeting euphoria once again?
