The global markets continues to wobble along. Trade deal or no deal..? Lots of talking heads saying it might happen, it might not, the potential credibility costs if its not. Meanwhile, all eyes on Hong Kong to see how the current university standoff plays out. The Chinese upped the ante this morning: – China attacks Hong Kong ruling to overturn Mask Ban. (Slightly concerned to read HSBC has apparently reacted to Chinese pressure and closed down accounts related to the protest movement.)
Fed Vs Trump
I would have loved to have been a fly on the wall at yesterday's confrontation meeting at the White House between Donald Trump and Fed Head Jerome Powell. They apparently had a convivial 30-minute chat where Trump lambasted, laid out his concerns the US is putting itself at a competitive disadvantage in terms of higher interest rates and a strong dollar. These factors have failed to fuel inflation and heightened trade tensions with EU and China. Trump protested his view US rates should be lower than competitors because, er, the US is the US.