'Our base case is that the phase one trade deal gets done and that might be about as good as it gets,' says Morgan Stanley's Andrew Sheets.
An anticipated "phase one" trade deal between the U.S. and China will likely be inked, but the subsequent stages "remain distant," according to Morgan Stanley's Andrew Sheets.
"Our base case is that the phase one trade deal gets done and that might be about as good as it gets, that phase two and phase three remain distant next year," Andrew Sheets, chief cross-asset strategist at Morgan Stanley, told CNBC at the Morgan Stanley APAC Summit on Thursday. Reuters reported Thursday, citing trade experts and people close to the White House, that a "phase one" trade deal between the two economic powerhouses may be delayed into next year. That news came after The... expectations for that phase one have become quite high and so that obviously increases the risk that if it's not delivered, markets will be disappointed by that.Meanwhile, investors are keeping a close watch on Dec. 15 — when additional tariffs on Chinese goods to the U.S.
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