Of Euros And Oil
Wednesday brought some welcome respite for global markets as relative stability in Asian equities (after Tuesday's bloodbath in China) and reasonably calm European markets stand in stark contrast to what we saw yesterday, following Trump's decision to escalate the trade dispute with China still further.
There were some notable headlines overnight.
For one thing, the ECB's Nowotny was out talking about policy divergence and rate differentials (my most recent laborious discussion on that is here