Yesterday Trump said the trade deal was getting closer and closer and risky assets jumped. We learned today that Trump has authorized an investigation into something that resembles capital constraints.
That sent US stocks close to their weekly lows of support, which was a former resistance to the August range.
In one sense, Trump puts his gun on the table and orders China to accept any trade deal. However, China may decide that these threats are only the first of a looming cannonade.
At the same time, perhaps they hope it is better to fight now and pray for a new leader in Washington.
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