Chase value, not price
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Major markets stall in wait for guidance from US bond markets re-opening
With traders in the US busy eating their Thanksgiving turkey, major markets have seen time for a consolidation. In the absence of US bond markets, in a time of yield differentials being key, this means a period of quiet. There is yet to be any significant reaction to Donald Trump signing into law the Congressional bills supporting Hong Kong. Equally there has been little reaction to China’s response which warns of “firm counter measures”. The question is whether the two sides can leave the issue of Hong Kong and that of “phase one” of a trade agreement as mutually exclusive. Without US bond markets for ... (full story)