“The Trade That Nobody Wanted” is playing-out in realtime, according to Nomura Managing Director Charlie McElligott.
With “substantial progress” claimed in U.S. / China trade talks, including a temporary 90 day Tariff cut exceeding even the most optimistic of expectations into the weekend being announced (each country reducing by 115%, i.e. U.S. lowering its levies to 30% from 145% and China lowering to 10% from 125%)... as Treasury Sec Bessent states that neither side desires a “decoupling” from the other.
