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During an interview with CNBC on Monday, United States (US) Treasury Secretary, Steven Mnuchin, said that they did make progress in last week’s negotiations with China and added that the “phase one deal” was “quite substantial.”

Mnuchin further reiterated that tariffs will be imposed on December if they fail to reach  a final  deal  by that date.

The fact  that the bond market will be closed in the United States due to the Columbus Day holiday on Monday allows the markets to remain quiet.