US equity futures spike to session highs on Mnuchin's remarks on trade

E-minis 26-06

Even if that optimism is a little bit misguided, Mnuchin basically gave us a taste of what to expect if there is good news to come from Trump and Xi's meeting later on in the week. When I mean misguided, check out this report (may be gated) by the FT back in April.

Yup, it's the same headline. That a "US-China trade deal is 90% done/complete".

Markets may be a little too quick to jump the gun here by riding on Mnuchin's comments today but if anything else, it highlights the kind of anticipation and focus towards US-China trade talks since the start of the week.

Should there be good news to come from the Trump-Xi meeting in Osaka, the euphoria in risk assets has the potential to be insatiable when we kick start the new week on Monday.