The temporary lifting of triple-digit trade levies between China and the U.S. while trade talks get under way removes the threat of an immediate stagflationary hit to the economy. This is very good news.

The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.

Gulf stock markets continued their upward trend early on Monday, buoyed by rising oil prices and developments in U.S.-China trade negotiations, which bolstered market sentiment as U.S. President Donald Trump prepares to visit the region.