From Obamacare to NATO, and from Ex-Im Bank to Chinese currency manipulators, President Trump has shown he is comfortable changing his mind 'bigly'. Today's exuberant support for "TTIP as good for global order," from Speaker Ryan, following VP Pence's meetings in Japan, raises questions about whether Trump's executive order withdrawing from the Trans-Pacific Partnership (TPP) free trade agreement is the next big flip-flop.
European stocks rebounded after the biggest one-day drop since November, alongside S&P futures, while Asian equities posted modest declines after yesterday's weak US close. Gold and yen slid, while the dollar gained on the latest Mnuchin comments to the FT according to which Trump was "absolutely not" trying to talk down the dollar.
Bonds have gievn up, comodities have given up, inflation expectations have given up, bank stocks have rolled over, and even 'soft' data is starting to rollover... still the 'rally' is in tact, it's just a fleshwound according to the business media...
Just when a few hours had passed without any escalation around the Korean Peninsula, The Guardian reports that the US military is considering shooting down North Korean missile tests as a show of strength to Pyongyang according to two sources briefed on the plans.
As the USS Carl Vinson heads towards the peninsula, along with two oither carriers, the Pentagon is looking for ways short of war to pressure North Korea into denuclearization, particularly if Pyongyang goes forward with an anticipated sixth nuclear test.
Gold Bullion Erases Post- Election Fall as Trump Wrong on Dollar - Daily Prophet
Robert Burgess of Bloomberg ProphetsPresident Donald Trump sent currency markets into a tizzy late Wednesday when he signaled his preference for a weaker dollar. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me," Trump told the Wall Street Journal.