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.

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

  • 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 
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose