Morning 5-29

Plenty of News today:

  • Axios: Pres Trump signed Exec Order last night aimed at limiting the legal protections that shield social media platforms from liability for content posted on their platforms ; despite signing the order , the Pres doesn’t have unilateral power to regulate tech firms/social media platforms 
  • President Donald Trump will hold a press conference to address China’s actions to tighten its grip on Hong Kong… And he is set to sign a measure that would punish Chinese officials for imprisoning more than one million Muslims in internment camps. China’s foreign ministry called U.S. actions so far “pure nonsense” and said Hong Kong is an internal matter. A revocation of Hong Kong’s favored status is considered a worst-case outcome of the press conference for investors. The U.S., Australia, U.K., and Canada released a joint statement Thursday criticizing China for breaking its international obligations regarding Hong Kong. Most observers do not see the U.S. putting sanctions on Chinese officials or pulling out of the Phase 1 trade deal that went into force earlier this year.(Pro Farmer)… US SEC. OF STATE POMPEO: TRUMP WILL MAKE A SERIES OF ANNOUNCEMENTS ON CHINA.(mizuho)
  • China Threatened military action to resolutely smash any attempt by Taiwan to become fully independent (BBG)
  • realDonaldTrump: I cannot stand back & watch this happen to a great American City, Minneapolis. A total lack of leadership. Either the very weak Radical Left Mayor, Jacob Frey, get his act together and bring the City under control, or I will send in the National Guard & get the job done right (ITC Markets)
  • The above tweet cause a response… Twitter hid a tweet from President Donald Trump on Friday, accusing him of breaking its rules by “glorifying violence” in a message that said looters at protests in Minneapolis would be shot.(reuters)…..  The feud continues
  • EU Core Inflation released earlier this morning .1 better than expected alleviating some of the deflation worries
  • CNN reporter Omar Jimenez and his camera crew were arrested on-air this morning while reporting on the increased police presence in Minneapolis. CNN’s live footage showed Jimenez asking officers where they would like the crew to move to in order to be out of the way before being placed under arrest, and CNN’s Josh Campbell said the police informed them they were being arrested because they were told to move and didn’t.(Reuters)

Markets:

 Main theme is dollar index 2-month lows, broke down outside of range. Less bad Inflation has Euro +.6%. Even with a weaker dollar stocks a bit saggy subtle risk Off   .Virus news taking a back seat to China, twitter and maybe Mnpls news. Gold +1%, Silver +2 Platinum +1.5 so a bid to proxy flight to safety products September treasuries bid Bunds A bit higher. let us see if any month activity shows up…All eyes on twitter and Trump Press conference No time given yet

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