The stock markets have priced in the Phase 1 deal umpteen times. But now it appears that this deal is more propaganda than reality. It is a contract about purchase intentions, although it is remarkable that the volume will not really increase significantly until 2021. The statements from Beijing sound more reserved, some backdoors are obviously being kept open. There is no talk of an (immediate) start of phase 2 negotiations (as claimed yesterday by US Vice President Pence). Today important for the stock markets are the US retail sales, because the Christmas sales figures are central to the consumer economy. In any case, the figures of US retailers have been very weak so far. After the stagnation of the last few days, is the Dax venturing out of its cover today?
New week, new optimism about the trade war. China’s Global Times says Phase 1 deal is “very close”. But insiders are obviously more skeptical. Even if there were a (largely trivial) Phase 1 deal, a […]
US retail sales (November) were 0.8% better than expected (forecast +0.3%, previous month +0.2%). At the core rate, US retail sales came in +1.0% (forecast +0.7%, prior month +0.1%). US import prices rose 0.7% (forecast […]