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As reported  by Reuters, Sunday’s late-hour sideline meeting between US President Donald Trump and China’s Xi Jinping has seen a delay in tariffs, which will allow markets to adopt a (temporarily) risk-on stance.

Key quotes

“Investors said the agreement, lasting 90 days, between Chinese President Xi Jinping and U.S. President Donald Trump at the G20 summit spelled a reprieve for stocks and could pave the way for a positive bookend to a volatile trading year.

“It sets a pretty positive tone (and) stocks should have a decent rally into December,” said Nathan Thooft, Boston-based global head of asset allocation for Manulife Asset Management.

“It’s not solved by any stretch of the imagination,” said Thooft. But risk assets and cyclical U.S. sectors like materials and industrials should benefit, he said on Sunday.”