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[Reuters] Trump says tariffs are working, U.S. and China are talking [BloombergQ] Trump Says U.S. Now Has the Upper Hand on China in Tariff Battle
[Reuters] China won’t accept U.S. trade ‘blackmail’: state media [Reuters] China’s Wang says response to U.S. trade measures necessary, legitimate [BloombergQ] Pompeo Warns Russia, China Over Violating North Korea Sanctions [BloombergQ] Turkey on Trump Blacklist as Sanctions Spell Trouble for Economy [WSJ] Global Heat Wave Toasts Wheat and Prices Soar
The renminbi traded at 6.8935 in early-Friday trading, with intensified selling pushing the Chinese currency to its lowest level (vs. the $) since May 26, 2017. The People’s Bank of China (PBOC) was compelled to support their currency, imposing a 20% reserve requirement on foreign-exchange forward contracts (raising the cost of shorting the renminbi). The […]
[Reuters] Trade worries keep lid on stocks, Italian bonds sell off on government tensions [Reuters] U.S. job growth slows in July, unemployment rate dips [Reuters] China unveils retaliatory tariffs on $60 billion of U.S. goods in latest salvo [BloombergQ] China Steps In to Support Yuan By Boosting Cost to Short [BloombergQ] U.S. Farmland Values Hit […]
The Federal Reserve leaves interest rates unchanged for August, but going against Trump, plan for another hike in September with possibly one more hike later in 2018. We cover how the markets reacted including the global currency markets. Gold in relation to longer term averages is reaching key levels along with important levels in the […]
[BloombergQ] Stocks Slump as Trade Fears Return; Dollar Climbs: Markets Wrap [Reuters] Trade tensions roil emerging stocks, U.S. sanctions hit Turkey [Reuters] Italy’s markets hurt by political worries, Poste Italiane [Reuters] JGB yields brush 1-1/2-year high before easing, 10-yr sale awaited [CNBC] China says it must retaliate against tariffs ‘to defend the nation’s dignity’ [BloombergQ] […]
[BloombergQ] Treasuries Drop Before Fed; Trade Weighs on Stocks: Markets Wrap [CNBC] US 10-year Treasury yield hits 3% for first time since June after strong payrolls data [Reuters] U.S. yields rise as government ratchets up borrowing [CNBC] Private payrolls boom in July, increasing by 219,000 vs 185,000 estimate: ADP [BloombergQ] U.S. Considers Higher Tariffs on […]
What are the impacts of 10 years of Quantitative Easing? Artificial market calm brought to you by 10 years & trillions of free (for now) money Central Bank Intervention: The rich are much richer & the poor are poorer FAANGS get defanged: Facebook loses 1/4 of total value in days The McAlvany Weekly Commentary with David […]
