Another night after another down market and another harangue of headlines jawboning progress on US-China trade talks.
Stocks and Yuan initially kneejerked higher on news that Huawei’s CFO has been granted bail, and then accelerated higher as Trump spoke to Reuters, once again reassuring the world that progress was being made with Xi.
Jeff Mason, Reuters White House correspondent, reports that Trump would consider intervening in case of Huawei CFO if it would serve national security and help with a China trade deal…
“If I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary,” Trump said.
Trump also said the White House has spoken with the Justice Department about the case, as well as Chinese officials.
“They have not called me yet. They are talking to my people. But they have not called me yet,” he said when asked if he has spoken to Chinese President Xi Jinping about the case.
And then said that China is buying tremendous amounts of soybeans and that he will meet again with President Xi on trade if necessary.
That sent Yuan spiking and US futures higher…
It seems the algos sensitivity to trade headlines has been turned all the eay up to ’11’.
via RSS https://ift.tt/2GcPfZI Tyler Durden