Beijing is turning the trade leaf: Its merchandise trade surplus with the U.S. is down at an annual rate of 10% in the first four months of this year. On current trends, that surplus could fall 24% in 2019.
A friendly Trump-Xi meeting is likely during the G-20 summit in Osaka, Japan later this month.
The Fed is maintaining its extraordinarily easy credit stance with an astounding $1.4 trillion of loanable funds in the banking sector.
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