In our cultural lexicon, the term Contemporary Literature captures a broad span of written work produced from the mid-19th century onwards. On a global scale, this literature serves as a vivid lens, bearing witness to historical milestones, political upheavals, societal transformations, and the intricate threads that weave humanity's narrative. Yet, in the academic sphere, it's more narrowly defined, typically encompassing works from the second half of the 20th century up to the present.

A pivotal period within this scope is the Postmodernist era, which emerged during the mid-to-late century. Grappling with the aftereffects of devastating world wars, the disillusionment with grand narratives, and the rise of consumerism, postmodernist literature deviated from traditional literary boundaries, forging new territories in form, content, and narrative style.

Postmodernism is characterized by a non-linear narrative, often fragmentary and absurd, bending time and space to push boundaries. It rejects the absoluteness of meaning, the singularity of truth, and eradicates the line between high and low culture. Thus, irony, pastiche, parody, and self-reflexivity are common tropes found within its works. It valorizes plural voices, surfaces the silenced sub-altern narratives, and embraces the intertextuality of texts, often borrowing and rewriting from a larger cultural pool of knowledge.

Fast-forward to the 21st century, contemporary literature bears the impression of its postmodern predecessor but also transcends it, fostering an environment that accommodates a multitude of literary trends. It reflects an ever-diversifying world marked by an intersection of cultures, ideologies, and experiences. We can observe these interconnected knots of postmodernism and present-day literary trends in various manifestations.

Contemporary literature—from post-apocalyptic narratives, metafiction, autofiction, graphic novels, digital literature, to multicultural and postcolonial fiction—aspires to the postmodern ethos of content and structural subversion. Yet, it simultaneously echoes the urgency of present societal concerns: the existential dread of climate change, the call for increased representation, the fear and hope entwined with emerging technology.

It's intriguing to see how contemporary literature mirrors the postmodern skepticism towards grand narratives. Yet, it often infuses a renewed engagement with subjectivity and sincerity, dealing boldly and sensitively with issues of identity, race, gender, environmental devastation, and technological pervasion. This ongoing negotiation, the reciprocal dialogue between contemporary literature and postmodernism, makes for an intriguing study. Through this exploration, we can better understand not only the richness of the literary field but also its function as a resonant societal mirror.

The ever-evolving nature of contemporary literature leads us to a multi-dimensional crossroads. Will the future see a more elemental shift from postmodernist thought? Or will it continue to evolve and incorporate the essence of postmodernism in novel ways? While the trajectory is uncertain, one thing holds true: contemporary literature is a dynamic space, constantly redefined by its enduring legacy, its present evolution, and its potential trajectory.