Good morning. Yesterday the US and China announced that they have agreed to a framework to restore a trade-war truce. The details are sparse, but it appears that there will be concessions from China on rare earths and magnets, and the US will soften some technology export controls and visa restrictions. The market did not get excited: the S&P 500 finished the day down 0.3 per cent, and Chinese markets only rose a little. Email us: unhedged@ft.com.
早上好。昨天，美國和中國宣布已就恢復貿易戰休戰達成框架協議。雖然細節尚不明確，但看起來中國將在稀土和磁體方面作出讓步，而美國則會放寬部分技術出口管制和簽證限制。市場反應平淡：標普500當日收跌0.3%，中國金融市場也僅小幅上漲。如有意見，請發郵件至：unhedged@ft.com（風險管不管）。
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