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What Comes First, a Trade Deal or Stagflation?

Maleeha Bengali

After President Trump's trade-war tweet on May 5 and the market's subsequent fall, the S&P 500 has rallied about 3% from the lows of 2805, although it is still off its all-time high of 2950. It was trading around 6.65 yuan to the dollar for most of this year, until recently falling to 6.94 to the dollar, threatening the all-important 7 level.