Markets have lowered their bar for what kind of U.S.-China trade headlines they'd cheer, a J.P. Morgan Asset Management global market strategist, Hannah Anderson, said.

"I believe we have seen expectations move from assuming China and the U.S. will resolve their differences during this 90-day negotiating period to assuming that talks would be a success if the U.S. doesn't raise or apply more tariffs on March 1," she said.

"This shift reflects how easy it would be for policymakers to move the goalpost and declare victory - and how eager markets, fatigued after a year of trade headlines, are to move trade issues to the back burner," Anderson added.