China is said to propose to purchase an extra $10 mln tonnes of US soybeans
This, in an effort to seek a partial/interim agreement in exchange for the US to put off a new round of tariffs which are due on 15 October, according to the Financial Times.
The report cites people briefed on ongoing negotiations, adds that the Chinese “are ready to de-escalate” and that “Liu He is coming with real offers, it’s not an empty visit”.
The above just adds to the Bloomberg report here but it is continuing to keep risk assets in a good mood for the time being.
Treasury yields are markedly higher with 10-year yields now up by nearly 3 bps to 1.558% while US futures are up by 1% as we move towards European midday.