Good morning — you're reading The Closer, your 10-minute guide to what's driving markets and deals.
Below: Jackson Hole week approaches with rates expectations in flux, plus our deep dive on the 90-day U.S.-China tariff truce. Executives are relieved but not relaxed—this pause bought time, not peace. Companies are hedging hard, building dual supply chains, and treating trade risk as the new permanent reality.
Plus: our negotiation nugget on keeping leverage while showing interest—the sweet spot between "not interested" and "done deal."
— Bradley
