Goldman Sachs are sceptical on any enduring resolution of trade issues after the Xi - Trump agreement
I'll get back to that, but for right now analysts at the bank see a bullish case
- US China tensions on trade a key weight on the price of industrial commodities
- metal prices should move higher on the weekend agreement … 'at least in the very near term'
Further on China:
- near a 'trough' for China data
- but parts of economy to remain heavy in coming months
- credit easing should benefit economy after Q1 of next year
But ….
- Just over 50% probability that US-China talks will falter when they reach more difficult issues
- Tariff increase to to 25% will still occur in March or beyond
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Ok, so short-term and slightly longer term views there from GS
