The Trump-Xi Summit honestly feels like they got nothing even remotely important accomplished.
- China will buy more Boeing Jets...okay, they do that every few years.- China will buy more beef...thanks. Especially because they are just buying what they stopped buying a while ago.- China will join the US to denounce North Korea being a nuclear powerhouse...lol, yes because China and the US both are going to try to seriously get NK to give up nukes. Makes sense. The point of the summit, from my understanding, was for Trump to get Xi to convince Iran to stop the BS and sign a deal.From all reports, Xi not only laughed at the US proposal, but he gave a counter proposal that Trump said hated, going as far to say that he "couldn't get through the first line of it."In fact, the CCP only really wanted to talk about Taiwan, which obviously the US does NOT want to discuss.Bond yields are *literally* exploding up, pacing their Feb 2025 highs because the escalation from Trump over the weekend and the lack of any progress with China makes the market think inflation will once again be the biggest issue this year as CPI and PPI are the hottest since 2022 and oil continues to be over $100.Now, the market doesn't really care...because semiconductors continue to provide all the earnings growth...but I wonder if the market does start to care soon. Just doesn't seem like we resolved anything with Iran in any meaningful way over the past week but hoping the ceasefire stays in place and military escalation isn't on the table.Source: amit
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