Chinese officials are pessimistic about the prospect of a U.S.-China trade deal. China is troubled by President Donald Trump saying recently the U.S. would not roll back tariffs as they thought both sides had agreed to do so in principle, Yoon reports.
The news triggered a move into traditional safe-haven assets. The benchmark 10-year Treasury yield fell from around 1.85% to 1.81%. Gold futures erased earlier losses to trade slightly higher.