Credit driven event underway spreading into higher equity vol, HYG something’s up with all the put buying

One of the world’s leading authorities on Asia expects a U.S.-China trade deal, but suggests any market rally off the news will be fleeting.

Yale University senior fellow Stephen Roach, who spent five years as Morgan Stanley Asia chairman, believes investors will ultimately be disappointed.

“When the dust settles, there’ll be some realization that this is not a fundamental breakthrough — that the conflict will be enduring,” he said Wednesday on CNBC’s “Trading Nation. ” “Take profits very quickly, which would be my sense.”