Trump-XI G-20 sideline meeting grants brief reprieve from trade war fears

As reported by Reuters, Sunday's late-hour sideline meeting between US President Donald Trump and China's Xi Jinping has seen a delay in tariffs, which will allow markets to adopt a (temporarily) risk-on stance.

Key quotes

"Investors said the agreement, lasting 90 days, between Chinese President Xi Jinping and U.S. President Donald Trump at the G20 summit spelled a reprieve for stocks and could pave the way for a positive bookend to a volatile trading year.

“It sets a pretty positive tone (and) stocks should have a decent rally into December,” said Nathan Thooft, Boston-based global head of asset allocation for Manulife Asset Management.

“It’s not solved by any stretch of the imagination,” said Thooft. But risk assets and cyclical U.S. sectors like materials and industrials should benefit, he said on Sunday."