Today we look an attempt to put together a strong close last week and why markets wilted again overnight, in party on news out of China, but also on sources indicating that the US Trade Representation Katherine Tai is set to say that China is not living up to the terms of the trade deal agreed under the Trump administration. Her appearance today is the first real opportunity to get a temperature check on the Biden administrations attitude and intentions on trade policy with China. Plenty more on the call, including a look at Tesla’s impressive Q3 delivery numbers, interesting FX stories for the week ahead and the earnings and macro calendar preview. Today’s pod features Peter Garnry on equities and John J. Hardy hosting and on FX.