Bassanese Bites: October move? – September 23 2019
Ongoing trade concerns and a less dovish than hoped Federal Reserve saw global stocks edge lower last week. Reflecting risk-off sentiment, bond yields also dropped back while the $US and gold lifted.
On the trade front, China’s decision to cancel a planned trip to US farms plus Trump’s declaration he wants a “complete deal not a partial deal” unnerved markets, which have been buoyed by encouraging signs of progress in recent weeks. Data out of China remained soft, with a further slowing in retail sales and industrial production growth – which might seemingly make China more willing to strike a trade deal and/or contemplate yet another round of policy stimulus.