The swap contracts linked to the Federal Reserve meetings tend to indicate a 25 basis point rate cut in September.

Odaily News After a round of negotiations in Geneva, both China and the United States agreed to drop tariffs and give each other time to resolve their differences. This progress marks an important milestone between the two economic giants. Major tech stocks, which were previously hit hard during the dumping wave, are expected to rise significantly at the opening, while safe-haven assets are dropping, with gold, yen, and Swiss franc all declining. Traders are also reducing their bets on the extent of rate cuts by major central banks this year. Swap contracts linked to the Federal Reserve meeting now favor a 25 basis point cut in September. Last week, these contracts suggested that the Fed could make a policy change as early as July. (Jinshi)