This Is What Counts As ‘Fireworks’ In An Otherwise Tranquil Market
Wednesday brought more fireworks than market participants have been accustomed to of late, but that's not saying much.
Stocks sank on Wall Street on reports that the US and China may be unable to come to terms on the long-awaited "Phase One" trade deal, which sources close to the White House now say may be pushed into 2020.
Equities (and the yuan) pared losses into the close, though. It was the biggest daily range for the S&P since midway through last month.
Read more: Despair! US-China T
Trump will not enjoy signing a veto, and watching his veto overridden. That looks weak. I’m going to guess he will sign the bill, while simultaneously issuing a statement claiming that the bill stands for something that is completely contrary to its plain meaning. And he will go on to praise the good people on both sides of the dispute, make clear that he would never enforce any penalties and offer his best wishes for a peaceful resolution.
Huh? That doesn’t sound anything like what Drumpf will do, least of all to a party like China.