"As of today, the Fed’s independence is guaranteed, but Trump has the ability to make his own appointments to the Fed board. If Fed independence does get threatened, you’re going to see a bond market reaction."
It's time for the market to once again "price in" the end of the US-China trade war, just because yet another low level Chinese delegation is coming to the US to discuss trade with US counterparts.
While traders will focus on Wednesday's retail sales number, the main focus will be the ongoing collapse in Turkey's currency and whether there will be contagion to other EMs as well as any escalations in the US-China trade war.
Closed storefronts are typical in American cities across shopping malls that once flourished in commercial zones of suburbia are now empty and abandoned...
"After 17 months in Washington, I do not know when or if I will ever return to the business, but I do know that my focus for the foreseeable future will be the work I am doing here in Washington."
