Global hedge funds reaped limited gains from a big Wall Street stock rally triggered by a U.S.-China agreement on tariffs on Monday, a Morgan Stanley note on Tuesday showed.

Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.

The lead U.S. negotiator in trade talks with China cheered “a great deal of productivity” in resolving differences between the world’s two leading economic powers, after officials wrapped two days of bargaining in Switzerland following President Donald Trump imposing steep tariffs and Beijing retaliating.

A truce in the U.S.-China trade war set off a relief rally in stocks on Monday and propelled the dollar higher, but investors fear further negotiations could prove a long slog, as risks of a global economic slowdown persist.