Having listened to China’s “buyers remorse” after loading up on $2 trln in USD reserves for the last six months, the US gave the Chinese a bit of their own medicine at the G8 meeting, stressing that they need to “show restraint” in dealing with unrest in Xinjiang.
Looking at the markets, risk was yesterday’s trade. Today, not so much. US equities are down toward the key support levels have been flirting with for much of the week. Oil is back below $60 in early US trade. EUR/USD trades about a cent below where NY left it last night, now at 1.3915.
