By Tyler Durden
It’s deja vu all over again, with global markets a sea of green, buoyed by US-China trade talk sentiment following a Bloomberg report that the US is considering a 60-day extension to the China March 1 tariff deadline (even if implicitly this confirms that there was virtually no progress made in the last few months, refuting the optimism of an imminent deal that helped push stocks over 17% from the December lows.
The big news catalyst overnight hit late on Monday night following a report that Trump was considering pushing back the deadline for imposition of higher tariffs on Chinese imports by 60 days, after earlier telling reporters that trade talks are “going along very well” and, with Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer in China, investors had been daring to hope for good news.
And while traders were happy to bid up risk assets for one more day on a variation of the same positive news that has hit wires – or Trump’s twitter feed – for the past two months, they ignored a tweet from the editor in chief of China’s Global Times who said that “speculations of trade negotiations will be extended …read more
Source:: Zero Hedge