In a rush? Here’s the key takeaway
- Without fresh bad news catalysts and with some not terrible Chinese trade data Wednesday’s hiatus in fear and lift in risk assets continued in trade thursday. But that worry has creep back after the close in US markets with news Huawei licences have not been granted and speculation the Trump Administration will break of trade talks if China cracksdown on Hong Kong.
- So we head into the week’s end with undcertainty growing and a real risk those players wanting to sell the rally could come down to market. We’ll see. For the moment though the S&P was up 1.9% at 2938, the DAX rallied 1.7% to 11845, and US 10’s ran toward 1.8% before reversing the reversal to sit back at 1.72%. Gold is still bid, as is the USD despite aggressive tweets from president Trump.
- It’s a big end to the week and we’ll all be focussed on the Yuan fix today. But there are plenty of other data and events as well.
Now, let’s dive in to this morning’s newsletter.
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