Ahead of this week's G-20 summit in Hamburg, Germany, Donald Trump called the leaders of China and Japan to discuss the "threat posed by North Korea', along with trade issues, the White House said on Sunday.
S&P500 futures have started the second half solidly in the green, up 0.3% to 2,429, tracking European markets broadly in the green, while Asian stocks fell slightly and crude oil is little changed. With US markets set to close at 1pm today trading volumes in many markets remain light before Tuesday’s July 4th holiday and as investors await Friday’s report on the American jobs market. Traders will be looking at key upcoming economic data for validation of the hawkish shift from central banks that roiled markets last week.
Authored by Gail Tverberg via Our Finite World blog,
Recently, a Spanish group called “Ecologist in Action” asked me to give them a presentation on what kind of financial crisis we should expect. They wanted to know when it would be and how it would take place.
Trump's "up and down" relationship with China may be on the precipice of taking a sharp dive into the proverbial abyss. After frequently threatening to label China a "currency manipulator" on the campaign trail last year, Trump's relationship with China's President Xi Jinping took a decided turn for the better after a meeting at Mar-a-Lago in which China vowed to help address the "menace of North Korea" .
Hayman Capital's Kyle Bass ventured on to CNBC this morning to drop some painful truth bombs about Trump's "drastically changed Chinese diplomacy" and China's looming "come-uppance."
http://player.cnbc.com/p/gZWlPC/cnbc_global
Bass began by highlighting what he calls a "tectonic shift" in US-China relations in the last few days, pointing to two crucial events...
1. Things changed drastically when US launched unilateral sanctions on China over North Korea...