By Kevin Muir
Can’t deny that it’s been a wild few weeks in the financial markets. Although it seems like an eternity, it’s only been ten trading days since U.S. Secretary of the Treasury, Steve Mnuchin, called a special meeting of the President’s Working Group on Financial Markets to ensure that banks had “ample liquidity”. It was Sunday night, a day before Christmas Eve, and the stock market had been falling precipitously for the previous few weeks. Mnuchin was under a lot of pressure from Trump to fix the problem and he figured he needed to do something.
Continue reading Mnuchin Massacre Christmas Eve Bottom?
By Heisenberg Report
They say you can’t fix stupid, which I suppose means the world shouldn’t get its hopes about about the upcoming trade talks between China and the U.S.
On Wednesday, China’s Ministry of Commerce said the U.S. has invited a Chinese delegation to Washington later this month, ostensibly to try and break a stalemate on trade before the Trump administration moves ahead with tariffs on an additional $200 billion in Chinese goods. That escalation, if realized, would trigger a response from Beijing in the form of differentiated duties on $60 billion in U.S. imports, setting the stage for the Trump administration to “go to $500 billion” (as the President put it last month).
According to the New York Times (and there were similar reports out on Thursday), Steve Mnuchin will attempt to pressure China to strengthen the yuan when the two sides meet in Washington.
Continue reading You Can’t Fix Stupid: U.S. Treasury Will ‘Pressure’ China To Strengthen The Yuan
By Anthony B. Sanders
Both Larry the Cable Guy and Treasury Secretary Steve Mnuchin would be proud of this week’s Treasury auctions. The “Git-R-Done! Auctions
(Bloomberg) — The U.S. Treasury’s $29 billion auction of seven-year notes drew the highest yield for securities at that tenor since 2011, capping a $258 billion flood of debt sales over three days.
Continue reading Treasury Seven-Year Sale Caps $258 Billion Week of Higher Yields (Git-R-Done!)