US representatives including US Treasury Secretary Scott Bessent met with China’s vice premier and lead trade negotiator He Lifeng in London yesterday. Both sides have temporarily slashed tariffs to allow the talks to progress following President Trump’s phone conversation with the Chinese President Xi Jinping last Thursday. As the talks enter day two, US and Asian stock markets are cautiously optimistic. Indeed, the MSCI China Index has now rallied sufficiently to enter a bull market. Meanwhile, the markets will also be watching US inflation data tomorrow for indications regarding the next move by the Fed at their meeting next week. With Bitcoin rallying to less than 2% shy of the record high, Manual Villegas from Next Generation Research joins the podcast with all the latest news on stablecoins and the opportunities and challenges facing those who invest in them.

• (00:00) - Introduction by Helen Freer (Investment Writing)