In a rush? Here’s the key takeaway
- China is playing the Trump game using both its own media and commentators as well as having “sources” background US press on what President Xi plans to deliver to President Trump at G20. In doing that we can get a window into what may happen at the meeting Saturday while China also gets to have some control of the narrative.
- Markets seem hopeful that a deal might be on the way if US stocks up, gold downish, and the US dollar’s move are any guide. But is that reasonable given where the protagonists have moved to in the past two months?
- Probably not, so today I look at the three main scenarios I see and what that means for markets.
Now, let’s dive in to this morning’s newsletter.
And for non-subscribers, If you want to have a trail of the daily subscriber service to get this and the 3000 odd words I write on markets each day you can sign up here for a trial.