After early indecision, investors ramped the demand for risk assets, encouraged perhaps by indications that the Trump Administration going to support at least another trillion-stimulus package. The NASDAQ rallied to new record highs, and the dollar got thumped across the board. However, in early Asia activity, Trump adviser Navarro seemed to have told Fox News that the US-China trade deal was over. This played on market fears that Trump was making good on his threat to walk away from talks. A ripple went through the capital markets, equities were sold, and the dollar was bought. The comment was "clarified" and walked ... (full story)