iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,895 Blog Posts

Futures Fall as *** TRADE WAR INTENSIFIES ***

Trump is doing the fucking rounds this morning. Let me recap for those of you bewildered by the about face in futures, presently down 37 NASDAQs.

Fuck France.

In comments to the press ahead of a NATO meeting in London on Tuesday, Trump said Macron’s words had been “very, very nasty” to the other 28 member states. He added that it was “very insulting” for the French president to label NATO as brain dead. “You can’t go around saying that about NATO,” Trump added.

The U.S. president said relations between the U.S. and European NATO members were not causing any divide, with the exception of France.

“I do see France breaking off. I’m looking at him and I’m saying he (Macron) needs protection more than anybody and I see him breaking off, so I’m a little surprised at that,” said the American leader.

And tax the shit out of them.

On Monday, the White House had said it may impose duties of up to 100% on $2.4 billion in imports of French Champagne, cheese and other luxury goods.

Phase 1 of the China trade deal agreement never happened and might now have to wait until 2020 before getting inked. What did I say?

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” Trump told reporters earlier on Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no … In some ways, I think it is better to wait until after the election if you want to know the truth.”

BONUS: Fuck S. America too.

Trump announced Monday the U.S. will restore steel and aluminum tariffs on imports from Brazil and Argentina. He also suggested the move was necessary because Brazil and Argentina had been “presiding over a massive devaluation of their currencies.” However, in recent months, both countries have been seeking to strengthen their respective currencies against the dollar.

To think we’re at record highs amidst all of this craziness makes me think craziness is all that was required for record highs.

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9 comments

  1. soupbone

    might be the markets will voice an opinion now, like markets can with the fed why not trade wars?

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  2. tha pirate

    Fuck Macron & his elderly wife, and fuck France.

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  3. jbandy

    Please don’t tell me you are falling for this. Just more amateurish “Art of the War” negotiating tactics. We all know that Trump has no chance at reelection without a strong market/economy. Even Trump knows that which is why he wants *some* deal badly. Ignore his tweets and pay more attention to his actions. He has backed off repeatedly and he’ll back off again when the time comes.

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    • numbersgame

      This may be “Art of War” stuff, but Trump never read that and “Art of the Deal” was ghostwritten.

      It’s not a negotiating startegy, it is the way an egotist look at failures “I didn’t want a deal anyway.”

      Question: why is a deal to buy soybeans is taking 8+ weeks to get made when both sides are desperate to make it?
      Answer: because both sides a relead by egotistical manians in which te top priority is saving face and lookin strong.

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    • og

      I can see him not wanting to blow his load yet. A trade deal now has no carrot for the markets during the election. Better for him to string everyone along for another year.

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  4. ferd

    Trying TBT here at 24.59x …this intraday move in bonds is crazy.

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    • numbersgame

      Why is the move that crazy? We’ve gone up for 8 weeks based on a trade deal that was “close”. Now instead of 2019, it may get pushed into 2021.

      Stocks are still near ATH, so there is no way this news is price in yet. As another way of looking at, compare the bond move today to the move way back …yesterday.

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      • ferd

        Not referring to just China …but to the whole of Fly’s post. With foes and former friends already working to bypass trade in dollars, that our paper still gets so strong a safe haven bid on the day when our BS artist in chief is doubling down on his rhetoric ..is crazy …at least to me it is.

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