The President tweets out 'China'
Ok, it was in all-caps and with an exclamation point.
In the crazy world we live in where traders try to make sense of what's going on in the Oval Office, this is meaningful.
The President announced yesterday that he will have a press conference on China today and that's when risk trades fell apart.
At this point, the Trump-China relationship is a total wildcard. The fear is that he swing hard towards 'tough on China' but I'm guessing it's going to be some ineffectual sanctions against companies and individuals, just like in Crimea.
Then again, with Trump you never know so you can see why the market is perking up. At the moment the dollar is rallying across the board, I also tend to think that the huge jump in personal income is a bigger part of that but there's no making sense of any of this.
