China has concerns regarding hard targets the US Is pushing for in terms of agricultural purchases,” CNBC’s Eunice Yoon reported on Friday citing a source familiar with China’s stance.
The initial market reaction to this development caused the 10-year US Treasury bond yield, which was last down 0.9% on the day, to extend its slide. Furthermore, the S&P 500 futures erased a large portion of earlier gains and were still up 0.2% ahead of Wall Street’s opening bell.
“China has committed to buying $40 billion in agricultural products. President Donald Trump, however, wanted a number closer to $50 billion,” the CNBC’s article further read.