Tariff truce between the US and China has prompted major brokerages to scale back their recession forecasts on the world's largest economy. While Goldman Sachs reduced its US recession estimates to 35% from 45% while JP Morgan has placed the probability below 50%. Barclays dismissed recession risks entirely.
Goldman Sachs was the first major brokerage to do so as a new wave of optimism has set in amid easing of global trade tensions.
Both countries on Monday agreed to significantly ease their tit-for-tat tariffs for a 90-day period with the US lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%.
Comments
Post a Comment