Political Turmoil in France; Trade Tensions Resurface; President Trump Moves to Fire Lisa Cook
Trump firing of a Fed Governor unsettles Treasuries
Highlights
• Trump firing of a Fed Governor unsettles Treasuries
• Threats of tariffs on China bring the trade file back into view
• The risk-on trade ignores massive uncertainty
• European equities and French bonds are jittery on renewed political turmoil
Key Takeaways
• Equities Receding from Friday’s Rally: We continue to see the supersized Friday rally subside, with U.S. equity futures in the red once again. The Euro Stoxx 50 has shed -1.0% here in the early going, and Asia gave up most of yesterday’s advance — the MSCI Asia-Pacific closed with a -1.0% loss, with the Emerging Markets index on pace for the same.
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