China's Liu He is to head to US for trade talks

China's vice premier's attendance is now confirmed

• Will visit US from 9 to 10 May for trade talks

Yen pairs are getting a slight boost from the headlines here with USD/JPY climbing to 110.75. US 10-year yields are also notably higher, moving up by 1.8 bps to 2.487% currently.

This is a mild positive for risk assets and should bode well for investors hoping for a turnaround in equities later today. However, I wouldn't be hoping for a major breakthrough given the short amount of time he'll be there.

I reckon this is more of an act of good faith by China to reconcile things before the tariffs hit and if this doesn't work, we could see negotiations potentially start to unravel again.