Odds of a trade deal - and of survival for bull market - fading fast

IN THE grand diplomatic game of "Deal or No Deal", the odds of a deal - and of survival for the bull market in US stocks - are falling fast.

Broad US stock indexes fell slightly last week as more of the bears' fears played out than the bulls' hopes, and more fears about prospects of a trade deal and economic growth could be realised this week.

The stakes were high going into the week, with the Dow Jones Industrial Average and the Standard & Poor's 500 on the brink of record highs.

The bulls were betting on a best-case scenario where the US Federal Reserve would cut interest rates by a half-a-percentage point even as the US and China make progress on …