Risk appetite returned to markets today after Chinese President Xi Jinping struck a conciliatory tone in the face of trade disputes. Xi said the Cold War and zero-sum mentalities were "misplaced" and supports free trade and dialogue to resolve disputes. Xi's comments appear to signal a less combative approach from China, and with US President Donald Trump also striking a more conciliatory tone, traders are weighing whether fears of a trade war were overblown. President Xi promised greater access to his markets for foreign investors. The speech revived faith in globally synchronized growth, which is strengthening ahead of earnings season, even after a Federal Reserve official warned that the dispute between the world's two largest economies will not be resolved soon.
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