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Thursday, March 28, 2024

US Reaches Trade Deal “In Principle” With China (Again)

Courtesy of ZeroHedge View original post here.

Update (1450ET): It appears “sell the news” is more the theme…

*  *  *

The algos are loving it… again.

Bloomberg reports that U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval, according to people briefed on the plans.

and the result…

S&P ripped right off of its VWAP…

And Yuan spiked to a new high for the day…

As did 30Y Yields…

Officials are meeting in The White House to get Trump’s sign-off, according to people familiar.

Just one little reminder of what happened two months ago:

Oct 11: Trump says the US has come to a substantial phase one deal with China

Trade accordingly!

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