Stocks, Yuan Jump On Report Of New US-China Trade Talks

www.zerohedge.com

Once again, 'hope' is alive,  as US equities surge higher on headlines claim Washington is seeking a new round of trade-talks with China (just two weeks after the last heralded round of trade talks amounted to a nothing-burger but prompted panic-buying in stocks).

According to The Wall Street Journal, the U.S. is reaching out to China for a new round of trade talks, in an effort to give Beijing another opportunity to address Washington’s concerns over trade issues before the Trump administration implements additional tariffs on Chinese imports, according to people briefed on the matter.

US equities jumped...

WSJ says that senior U.S. officials, led by Treasury Secretary Steven Mnuchin, recently sent an invitation to Chinese counterparts headed by Vice Premier Liu He, proposing another meeting to talk about bilateral trade, the people said. The U.S. side has proposed to have the discussions in the coming weeks, and has asked the Chinese to dispatch a ministerial-level delegation for the talks.

It's not just U.S. equities.  Chinese stocks are spiking...

And Yuan is also rallying...

The EM stock and currencies indexes are rallying, the dollar has extended declines...

Copper, gold and other commodities are gaining as the report of new trade talks with China purportedly eases concern that new tariffs will be implemented in the near future (we wouldn't hold our breath).