China concerned about US' hard targets of agricultural purchases – CNBC

Eren Sengezer FXStreet

"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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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