Ok, well if you needed another reason to get bullish risk going into the overnight session, you’ve got two.
The first is Kim Jong Un backing off “plans” (which of course were never really serious plans) to bomb Guam, but more importantly for markets, is this:
JUST IN: Donald Trump to sign executive order Tuesday on environmental reviews and permitting for infrastructure projects – White House pic.twitter.com/lZMiK04CtL
— Reuters U.S. News (@ReutersUS) August 15, 2017
Obviously that infrastructure bit is key. Here’s what Bloomberg has:
- Trump to Sign Order on Infrastructure Projects Tuesday
- President Trump to sign order “establishing discipline and accountability in the environmental review and permitting process for infrastructure projects” at 3pm, according to White House schedule.
- Trump to also give statement on infrastructure at 3:45pm at Trump Tower in NYC
Here’s futs:
And USDJPY was already on the move after the Kim “backs down” headline as Bloomberg sees “leveraged accounts buying spot USD/JPY through the 109.80 overnight high after the Wall Street Journal report on North Korea.”
If you bought the dip today, this bodes well.
Has Janet and company agreed to writing the check?
Collateral being another IOU
Agreed. Hot air can be used to make things rise.