Treasury Secretary Mnuchin said Chinese tariffs will not go up on October 15
Treasury Secretary Mnuchin said Chinese tariffs will not go up on October 15. But there has not been a decision on the December levies. And, while there's still a "substantial" phase 1 deal, it has yet to be written, and that could take some three weeks. China's Lui He also said the negotiations with Lighthizer and Mnuchin were "very good," and added hopefully analysts will make progress. Sources say China has agreed to increase its ag purchases and roll back some of its tariffs. There will be a phase 2 part of the talks, after phase 1 is completed, and possibly a phase 3. Reportedly Mnuchin is working on a "currency pledge." The gains on Wall Street have faded after the afternoon surge which took the Dow up over 500 points to 27,013. The S&P 500 rallied to 2993 before dipping back to 2977. Treasury yields have dipped from their highs too, leaving the 10-year at 1.73% from 1.765%, with the 2-year at 1.595% from 1.632%.