US/China Talks Finally Underway
A strong start to the week delivered new record highs in the US and that positive momentum is flowing back into Europe on Tuesday, with indices opening around half a percent higher.
The slew of positive vaccine/treatment news at the start of the week has got us off to a good start as investors grow increasingly optimistic that we could have something to celebrate as early as later this year. The Trump administration’s clear desire to see any solution fast-tracked through the FDA approval process is no doubt helping to boost morale.
Moreover, talks between the US and China trade teams is finally underway, despite the heightened tensions between the two countries. This is the one bright spot in an otherwise very strained relationship but both sides seem determined to make it work.
Both sides have good reason to make this work and it seems the delay will enable Trump to highlight the success of it both this week at the Republican Convention and heading into November’s election.
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