A rebound this past week on relatively light pre holiday volume, as the U.S. both did its best to tamp down worries about the trade war. How much of this is real vs “talk” is debatable but the market was in a mood to listen.
Trump said negotiations would begin again in the wake of the U.S. receiving two “very good calls” from Beijing, even though the Chinese played down the significance of the calls.
That sounds great!!! Except for well this whole issue of there were no calls…
China’s foreign ministry has said though that it is “not aware of” any phone call between China and the U.S.
But no worries it got the market up over 1%.
More real… on Thursday:
A spokesman for China’s commerce ministry was quoted in news reports as saying the country wouldn’t immediately respond to the latest round of tariff increases announced by President Donald Trump on Friday. Those increases came after Beijing announced a round of retaliatory tariffs. The spokesman, Gao Feng, said “the question that should be discussed now is about removing the new tariffs to prevent escalation.” He also said both sides were discussing a planned meeting next month of trade negotiators.
The global economy continues to slow/shrink:
Data on Tuesday affirmed that Germany’s economy shrank in the second quarter as weaker exports dragged on growth.
Reportedly, Trump called the German economy (twice) and told it to grow…Continue reading