Huawei Blackballed And The Return Of Raging Rates Moves: A Macro Odyssey

On Wednesday, markets were pleased to learn that Donald Trump will, for now, hold off on the imposition of auto tariffs pending negotiations with Europe and Japan. Markets also learned that the administration is on the verge of cutting some manner of deal with Canada and Mexico that will lift metals tariffs and pave the way for the ratification of the USMCA. All of that appears designed to allay fears that Trump is prepared to forge ahead with a multi-front trade war, on the way to making ever