The day started well for the Bulls, with Wall Street opening the session with slight gains following the move that began on Monday. A technical rebound based on an apparent softening of Trump’s rhetoric and the absence of major economy news. However over time sentiment grew more and more negative and at lunchtime the US indices were losing ground.
Photo by Yiran Ding.
Highlighting the confirmation of what I said yesterday, about the Chinese delegation not having made any telephone contact with its US counterpart to resume the negotiations, this fact was clarified today by the Chinese Foreign Minister Geng Shuang, thus denying the Trump’s statement from yesterday. But what is marking the day is again the reversal of yields, because the negative difference between the 2-year and 10-year bond rates has widened, thus reinforcing the indication that the economic horizon will bring a recession soon, one year, or year and a half.
Marco Silva is a Financial Market Specialist with 20 years of experience, with transactions in 12 different countries, involving numerous financial instruments, Specialist in Technical Analysis, Capital Manager, Investment Advisor, Financial Hedging Operations and Algorithm trading developer. Economic Commentator TV and RTP Information for the Financial Markets, Responsible for the Department of Economy / Markets of TVL.
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© 2019 High Leverage FX - All Rights Reserved.