Summary for the 27th of June 2019


The US secretary of the treasury, Steven Mnuchin, said yesterday that a trade deal between the US and China was 90 percent done, and the deal might be finalized this weekend. The statement came after it was announced that the US was willing to postpone the tariff hike on 300 billion dollars’ worth of Chinese goods.

President Trump expressed support that a trade deal might be finalized this weekend. He also said that a deal wasn’t a necessity, and that he had a plan B ready. Already in May this year, Mnuchin also said that the trade deal was 90 percent done.

President Trump continued his criticism towards the Fed, and insisted that even though he had the right to demote or fire Powell, he wouldn’t be doing that. He went on and said that instead of Powell, the US should have Draghi as the Fed’s Chair.

The South China Morning Post wrote of a tentative truce between the US and China to hold off the tariff hike. This led to an increase in the Asian stock markets this morning.

The EU might be delisting Swiss companies from the European stock exchanges. Switzerland isn’t a member of the EU, and has been granted stock market equivalence. The renegotiation of extending the equivalence has been ongoing for a year, and the deal will be expiring at the end of June

Indices for 27.06.2019
Dow: Unchanged (26th of June)
S&P 500: -0.1% (26th of June)
Nasdaq: +0.3 % (26th of June)
Nikkei: +0.9%  (27th of June)
Chinese indices: +1.3% (27th of June)
STOXX Europe 600 Index: Unchanged (27th of June)

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