Happy Monday! It is the President’s Day holiday here in the US so things are a bit quiet. Liu He arrives in Washington Tuesday for the next round of trade talks scheduled for the 21-22. From what I hear the US side, perhaps with the exception of President Trump, is not happy with what the negotiators view as very limited concessions from China. While some sort of a framework deal and extension of the talks is likely by March 1 to avoid new and increased tariffs is still likely, I do think the Chinese and the markets may have gotten too confident that it is a done deal.