US Futures spiked (along with Treasury yields)…
Along with the Chinese Yuan…
After Xinhua reports that Chinese President Xi Jinping calls for an early conclusion of negotiations on text of China-U.S. economic and trade and agreement.
Via Xinhuanet’s Weibo site (google translation):
Liu He, the Chinese leader of the China-US comprehensive economic dialogue. Liu He first conveyed President Xi Jinping’s sincere regards to President Trump and his message to President Trump.
In his oral letter, Xi Jinping pointed out that over the past month or so, the economic and trade teams of the two sides have conducted intensive consultations in various forms and made new substantive progress on the key issues of the texts of the economic and trade agreements between the two countries.
It is hoped that the economic and trade teams of the two sides will continue to resolve the concerns of both sides in the spirit of mutual respect, equality and mutual benefit, and complete the negotiation of the text of the Sino-US economic and trade agreement as soon as possible.
Under the current situation, the healthy and stable development of Sino-US relations is related to the interests of the Chinese and American peoples and to the interests of the people of all countries in the world.
In particular, we need to play our strategic leadership. I would like to maintain close ties with the President through various means. I believe that under the joint guidance of Mr. and President, China-US relations will surely achieve new and greater progress.
Liu He said that in the past two days, the economic and trade teams of the two sides have conducted fruitful consultations, especially on important issues such as the text of economic and trade agreements. Under the guidance of the consensus of the two heads of state, the two sides will continue to work hard, hold close consultations, make more progress on issues of mutual concern, live up to the major responsibilities of the two heads of state and the people, complete negotiations on economic and trade agreements between the two countries as soon as possible, and promote the two country’s economic and trade relations have developed in a healthy and stable manner.
Trump thanked President Xi Jinping for his oral message and asked Liu He to convey his cordial greetings to President Xi. Trump said that the current US-China relationship is developing well, strong and powerful, and at a historically high level. I am very happy to see that the economic and trade consultations between the two sides have made great progress.
I hope that the economic and trade teams of the two sides will make persistent efforts to solve the remaining problems and strive for an early and comprehensive agreement. This will not only benefit the United States and China but also the whole world. . I look forward to meeting with President Xi after the two sides reached an agreement to witness this great moment. I would also like to pay a special tribute to President Xi for making an important decision on the entire class of fentanyl substances in China. This matter is of great significance to the American people and the US-China anti-drug cooperation.
U.S. trade representatives Wright Hize, Finance Minister Mnuchin, Agriculture Minister Perdue, Commerce Secretary Ross, Presidential Senior Advisor Kushner and other US officials attended the meeting.
This comes just a few short hours after President Trump remarked that the trade deal was not done and would liekly need an additional two weeks over the remaining four weeks already scheduled for negotiation.
…still no deal though!
via ZeroHedge News https://ift.tt/2ORAXhF Tyler Durden