Fra Zerohedge:
Update: UST just released a statement confirm that the tariffs will go ahead on Sept 1st but tariffs on some products (including cellphones and laptops) will be delayed until Dec 15 on the basis of health, safety, and national security.
The market appears to have seen “delay” and “Dec 15” and panic-bid.
Market participants are claiming Trump blinked and did not want to see stocks fall anymore? Does this sound like someone who is ready to fold?
Donald J. Trump
✔@realDonaldTrump
Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China. Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won’t report!
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After a weak open, US equity markets are panic-bid following a headline from China’s MOFCOM that US and China plan to speak by phone again in two weeks (before the Sept 1st tariffs)…
…and that’s enough to ignite algo momentum…
So “talks” mean progress? Have you not been paying attention for the last two years?
As a reminder, the market remains unconvinced that a trade deal is on the cards…
