Market expectations on the US-China trade deal are “very positive”, an asset manager at BNP Paribas told the Financial Times.
“The number one thing is likely the US may cut the total tariff rate to 45 per cent,” said Wei Li, head of multi-asset investments for China at the French bank. “If the tariffs are still higher than 45 per cent investors may be disappointed.”
Li added that the ceasefire between India and Pakistan, along with a potential progress on negotiations between Ukraine and Russia, were all contributing to risk-on sentiment in markets.