The war of words between the Trump administration that wants a good ‘phase one’ trade deal for the American people and the leaders of the Chinese Communist Party which just want tariffs removed continued in the press today with the state-run Chinese Global Times spooking markets early this morning.
CD Media has consistently said that tariff removal is of uppermost importance for the Chinese communist government. Beiljing will say or promise anything to achieve this result.
In economic data for the day, UMich Consumer Confidence came in at 96.8 vs a consensus estimate of 95.7.
Markit Services PMI was reported at 51.6 vs 51.0 consensus. Markit Manufacturing PMI was 52.2 vs 51.4 estimated.