During a short appearance for the media after the almost three-hour conversations, the two leaders said they had made progress with non-specific issues. But they did not offer any details and did not accept any questions, in which the normally shouted questions from reporters ignored screaming Trump.
“There were many, many points that we once agreed. I would say a few big ones that we did not completely get there, but we made some progress,” said Trump, standing for a background that reads, “pursue peace.”
Comments:
Helima Croft, Global Head of Commodity Strategy at RBC Capital Markets, New York:
“It seems to be the scenario that we had expected in our memorandum. Sound bites that signal diplomatic progress, but few concrete deal specifications. We will see to see if the ‘continued’ outcome is sufficient to increase the secondary sanctions on India for the import of Russian oil. -Sanctions to consider. “
Carol Schleif, main market strategist, BMO Private Wealth, Minneapolis:
“The only news was absolutely no news out of it. I am not sure if there will be a market -effective portions – geopolitical issues in general tend not to take care of the market for long or not at all.” “Markets are at new highlights, despite the fact that this conflict has been going on for three years. Markets give more about consumers, inflation and comments from Wyoming next week.”
Eric Teal, Chief Investment Officer, Comerica, Charlotte, North Carolina:
“The fact that there were no economic sanctions is positive and markets should breathe a sigh of relief, but it doesn’t seem like a deal is in hand.”
“If there is something, we see the chance in the energy sector, because the oil prices here are at a fairly low level and the prospect of sanctions against oil is not achieved. There could be an assistance and that would be a chance to invest in energy while we start to speed up higher seasonal requirements and economic growth that start to speed up.”
“Gold and precious metals are likely to be sold out because they are an asset class that is good for safety. Given concerns about inflation, they are also a good point of sale as the only weakness.”
Eugene Epstein, Head of Trade and Structured Products, North -America, Moneycorp, New Jersey:
“I don’t think anyone expected that it would be particularly specific or substantive. It is essentially a first step in the direction of potentially a little more. They both said everything diplomatically. But it is more about the meaning of the meeting as a whole, in contrast to the content of what they say.”
“Again, I don’t think someone really expected that they would suddenly come within a few hours with a very specific set of plans or any form of blueprint for something. It actually just showing their willingness to have continuous conversations to come to a conclusion that is useful for all parties. And I think this is only the first steps, and much more.”
Tom Goday, beautiful director of Rading and Mischler Financial Fro
“In short, President Trump has to go back to the European Union and pass on what Putin said. And then he has to negotiate with Zelenskiy. For the most part I think they have laid the foundation for a deal. And my feeling is that it will probably be done, but there is probably a few more steps. I think that will be one in the following month.”
“They will probably reach a deal in 30 days. I was a bit surprised that they did not ask any questions. So there is a bit of disappointment in it, but until a deal is closed, you can’t really take questions.”
“In general, the markets will like it marginal because I think they have made some progress. But I don’t think we will be 400 points in Dow Futures on Sunday evening.”
Michael Ashley Schulman, Chief Investment Officer, Running Point, El Segundo, California:
“At the moment it has been three years in the war, so it really shouldn’t have much effect. I think markets will consider it as status quo, but I think there is only upside down here.”
Jamie Cox, Managing Partner, Harris Financial Group, Richmond, Virginia:
“Without Ukraine at the table there was little chance for a peace agreement. That Putin was important at all, but he cannot be seen to end the conflict while he is at the American soil meeting with Trump.”
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