Bespoke Investment Group hit the fundamental (and political) nail firmly on the head in their morning commentary: emphasis mine…
“Over the weekend, the Presidents of China and the United States announced a truce and return to the negotiating table. We hesitate to credit either party with anything given that the entire trade war narrative has been manufactured from the start, and that neither President Trump nor President Xi made firm commitments to any concession which could lead to a more permanent agreement.”