The progress this week on the China/US deal is a significant step to de-escalating the trade war.
As a result Goldman Sachs raised their Q4/Q4 2025 GDP forecast to 1% and expect the unemployment rate to rise to just 4.5% by the end of the year now.
As macro traders Rikin Shah and Cosimo Codacci-Pisanelli detail below, the modal case is a “muddling through” one now.
