US Treasury Secretary Mnuchin says not surprised markets having a bit of a correction

Author: Eamonn Sheridan | Category: News

Mnuchin has been meeting with PBOC Governor Yi Gang

Difficult to take much issue with Mnuchin's correction comment, if indeed it turns out to be a correction. Gotta say, even it turns uglier its had a great run so no, not a surprise.

More:
  • US economy fundamentals remain extremely strong
Errr …. debt funded tax cuts, debt funded fiscal profligacy …. given those, OK then.

More:
  • Markets are not efficient, overshoot in both directions
  • nothing specific today for the market to react to
  • market handling supply from Fed unwinding very well
  • US concerned about Chinese yuan depreciation  
  • weaker yuan should not be competitive devaluation 
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