Trump proactively postponed the Trump-Xi meeting scheduled for the end of the month. This is absolutely good news for the global risk asset markets, which have been on edge. Everyone can take a breather. The quagmire of Iran's military actions, private credit blowups, and the AI Ponzi cycle nearing its limit have all become bargaining chips on the Trump-Xi negotiation table. Just when China had the strongest hand, ready to go all-in or even shove, President Trump decisively cut losses and folded, starting a new game. Truly a seasoned player who’s been through the Meme coin markets.