Morning 6-27

He said, she said Event driving flows this morning

  • From South China Morning post at 3:30 Ish , US and China agree  to tentative    truce before G20 summit  
  • Then around 4:45 this morning    Chinese Diplomat says    NOT AWARE OF SCMP REPORT ABOUT A TENTATIVE TRADE DEAL: BBG
  • China is insisting that ban on tech sales to Huawei be lifted before any deal is signed    …Not good for negotiations I believe  
  • G-20 leaders arriving in Osaka as I type, Plenty of tape bomb material  Is possible over the next few days    as world leaders meet face to face           
  • For the second time in a little over a week Goldman lowered end of year forecast for US 10 year yields   ,they predict 1.75%,joins peer JP Morgan    
  •  Open interest — a measure of a market’s liquidity — in the Eurostoxx futures index hit record highs on a monthly basis of 4.61 million lots on Monday
  • German CPI in line with expectations
  • GERMANY AND FRANCE, OTHER ALLIES, TOLD U.S. DEFENSE CHIEF ESPER THAT 2015 NUCLEAR PACT ON IRAN MUST BE UPHELD, SHOULD NOT BE JEOPARDIZED-Reuters
  • President Donald Trump will have breakfast with Saudi Arabia’s Crown Prince Mohammad Bin Salman before a high-stakes meeting with Chinese President Xi Jinping on Saturday, White House spokesperson Hogan Gidley said.
  • Negative comments Regarding Boeing sees stock 2%
  • Per Bloomberg Junk bonds have already returned more this year than last 2 years Combined,searc for yield knows no bounds

 Bonds higher stocks higher, Bund little changed Dollar sideways as markets await Trade deal talks and  on the lookout for Tape bombs related to  trade and Iran. Stocks in Japan, China, and Hong Kong closed higher, Dax up a touch. Gold pulling back from multiyear gains trading back towards $1400  And Bitcoin futures -13%.US economic calendar doesn’t offer much excitement, and a 7 year auction at noon. Oil down a bit as it  has plenty of future event risk from trade talks, Iran and OPEC meeting  next Monday Tuesday.Copepr little changed stuck in a tight range. Month end quarter end tomorrow.

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