morning 6-7

News and Notes:

  • Mexico  -U.S. Trade talks to continue today, So Far Mexico has not done enough to prevent tariffs  starting on Monday
  • G20 finance Minister Meet this weekend and Hope is that Treasury secretary Mnuchin and  his Chinese Counterpart will have cordial discussion regarding Trade, watch out for tape bombs regarding these talks
  • Chinas Central bank governor said there is “tremendous” room to adjust policy If trade war deepens-BB
  • The dollar on pace for biggest weekly drop since March
  • The worst thing for traders today  would be an inline number, an ugly number would cause An increase in pricing for June cut currently 21%, A blow out Number would pare some of the expectations for July cut, currently 65%
  • Facebook no longer allowing pre-installation of its apps on Huawei phones
  • A Russian and US warship came  “this close  “to colliding in the pacific, looks like a game of Chicken

 Quiet overnight a typical pre payrolls Vigil. Treasuries, Bunds and Stocks a touch higher. Currencies little changed, what stands out is iron ore   which closed down 1.6% in China, it is used as a proxy for   Economic strength. Copper down -.3% Oil higher today as Saudi and Russia pledge coordination to keep supply cuts in place until year end

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