WAPO CO-EDITOR TWEETS: U.S. OFFICIALS CRAFTING PLANS TO PUNISH OR DEMAND COMPENSATION FROM CHINA OVER VIRUS, AS TRUMP FUMES IN PRIVATE OVER PANDEMIC OFFICIALS DISCUSSING STRIPPING CHINA OF SOVEREIGN IMMUNITY (SO PPL CAN SUE), OR VOIDING US DEBT OBLIGATIONS TO CHINA
China’s Big cap ETF, FXI down 2% on the news. 1 minute chart below
The president is quite Active on Twitter today so maybe just a bit of frustration on his part and thus lashing out at all of his Enemies.Something to monitor obviously but since it is from Washington Post President may call it Fake news. Fake or not the story did pressure stocks causing new session lows across the major indices,Spoos -1.7%,nasdaq -1.3% Russell -3.3%. European stocks are trading heavy all morning so this headline just gave them a nudge lower,Stoxx -3.3% Dax -3.1%. No worries though Month to Date,MTD, Stoxx +5%,Dax +9.3%( in euros)
Treasury’s Trading with a bid but keeping a lid on treasury upside is another heavy Slate of IG,Investment Grade paper .Ten new IG deal announced today(IFR) highlighted by Boeing seven trance deal and IBM four part deal with maturities ranging from 3 year to 40 year so a bit of hedging ongoing today.
Once chart that has caught many people eye gasoline demand,update yesterday post EIA release.This is Total change in U.S. Gasoline Demand, a very nice rebound,