Update on Champagne pouring:
— Squawk Box (@SquawkCNBC) October 14, 2019
THE PRESIDENT TOLD ME ON FRIDAY THAT ‘PHASE 1’ OF THE DEAL WAS COMPLETE. I was supposed to get another big breasted rally to motorboat in. Instead, Nasdaq futures are down 30 on news that Chinese state media is tossing a wet towel on what was agreed during the meetings. The fuck you mean?
Chinese state media appeared cautious about celebrating the partial U.S.-China trade deal, and warned Washington to “avoid backpedaling.”
The U.S. has suspended a tariff increase to 30% from 25% on at least $250 billion in Chinese goods that were set to take effect on Tuesday. A tariff hike implemented in September was not rolled back and plans for another hike just before the the Christmas holiday on Dec. 15 remain in place.
“While the negotiations do appear to have produced a fundamental understanding on the key issues and the broader benefits of friendly relations, the Champagne should probably be kept on ice, at least until the two presidents put pen to paper,” wrote China Daily, the official Chinese state-owned English newspaper.
So do you mean to tell me Trump was fibbing? I refuse to believe it.
While it’s true, it’s early going and shit can change fast. It’s also true I am long and strong and totally exposed to the market winds — which are blowing east Mr. Dickens. This is not complicated. All things rest on this singular news item. Should we come to find out there is no trade deal to be had — we’ll sink lower until Trump figures out a way to tweet something bullish.If you enjoy the content at iBankCoin, please follow us on Twitter