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Trump Figures Stocks Are High Enough Now That He Can Throw Cold Water On Trade Deal
Speaking to reporters at the White House on Friday morning, Donald Trump appeared to contradict a number of the trade headlines that have served as the basis for the risk-on move that's driven US stocks to record highs.
Earlier this week, reports indicated that Iowa - a site floated by the administration along with Alaska and Hawaii - was no longer under serious consideration when it comes to the venue for a signing ceremony attended by the US president and Xi Jinping.
But Trump told reporters
that is EXACTLY what he does over and over. uses an up week or month to lay claim to the benefits; then attacks dems, or insults trading partners or fesses up that phase one is a nothingburger. mkt will be volatile as he gets impeached, but once done mkts will be relieved imo.
He’s also laying the foundation for a December rate cut. He can’t be pleased that it got priced out of the market after last week’s meeting.
It’s friday, they’ve decided to bank their profit and now go short.short
One thing I’ve noticed is that pretty much EVERY announcement on the China trade issue (usually positive) happens on a Friday. Is it so the upper folks in the administration can then bolt out of town without having to provide any detail? Is the market being manipulated somehow on Fridays? Who knows? Just an observation.
Let us not ascribe malice to this organization when ineptitude is the far more likely culprit. Everyone wants to credit Trump with 10 dimensional chess moves while he’s blathering on about “taking in billions in tariffs.” The most likely explanation is that Trump and his team just aren’t using the same talking points which can’t really shock anyone at this stage.
The equity markets haven’t yo-yo’d as much on trade lately. My guess is they have priced in the fact the “trade war” is at its nadir and while it might devolve into an uneasy detente it won’t become a full scale economic apocalypse.
Oh great now you’ve gone and said it. Here comes the “full scale economic apocalypse”.
Having listened on MSNBC to the excerpt from “A Warning” by Annonymous which will be published in 2 weeks on how his aides try and fail to brief him on anything at all – ‘use pictures or just one picture’ – I would support the ineptitude scenario. Just unbelievably incapable.
https://www.msnbc.com/rachel-maddow-show