Chinese tourists spend more in this country than any other country — approximately $36b per annum. Today China issued a travel warning to the US, citing all sorts of shit, from school shootings and Trump’s police state, which in theory should weaken the prospects of luxury goods retailers, like TIF — providing Chinese tourism wanes due to this stupid travel warning.
$TIF falling nearly $3 in the pre-market after they affirmed Q2 EPS to decline year/year, with the jewelry giant seeing sales pressures from the effect of lower foreign tourist spending
— Jon Najarian (@jonnajarian) June 4, 2019
China’s Ministry of Foreign Affairs announced Tuesday a safety warning for Chinese citizens and companies in the U.S.
The Ministry of Culture and Tourism also issued a warning Tuesday for Chinese tourists traveling to America.
These announcements follow the Ministry of Education’s warning on Monday to Chinese students studying abroad that noted recent U.S. restrictions on some Chinese student visas.
In other news, US futures are +200 and the 10yr treasury is up 3bps to 2.11%. I am couched by the fact that WTI is off by another 0.8%. Nevertheless, this bounce looks promising and it should provide hurting longs with a small respite and perhaps an opportunity to lighten up ahead of the storm of fire.If you enjoy the content at iBankCoin, please follow us on Twitter