What happens during this week’s critical Trump-Xi meeting

ZeroHedge/Tyler Durden/6-22-2019

“The G20 meeting is important but is unlikely to be decisive. Financial markets are once again focused on trade policy, in anticipation of the upcoming meeting between President Trump and President Xi at the G20 meeting in Osaka, Japan (June 28-29). However, we do not expect whatever announcement they make following the meeting to provide very much clarity on whether the US has finished increasing tariffs or whether a deal will eventually be reached with China. While we can imagine several potential outcomes from the upcoming meeting, the most likely outcome seems likely to prolong trade policy uncertainty.” – Alec Phillips, Goldman Sachs political analyst

USAGOLD note:  In other words more of the same. . . . .Goldman Sachs has developed a tracking tool on the probability of trade settlement between the U.S. and China.  It puts that probability now at 20%.  It has been as low as 7% in May and as high as 80% last March.  This piece also makes the connections between the trade war and Fed monetary policy concluding that the Fed’s likely route is “setting up Trump nicely for the election.”

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