Notes You Need for April 13: China exports, initial claims for unemployment, North Korea birthday nuclear test, bets on French election, iron ore, Argentina upgrade, venture capital, XLNX

Notes You Need for April 13: China exports, initial claims for unemployment, North Korea birthday nuclear test, bets on French election, iron ore, Argentina upgrade, venture capital, XLNX

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We’ve moved to a risk-off market–for how long?

We’ve moved to a risk-off market–for how long?

It’s a classic risk off market today as of 4 p.m. New York time. All the safe havens are up. The yen is ahead 1.2% to 109.65 to the dollar, breaching the 110 level for the first time since November. Gold is 1.73% higher to $1275.60 an ounce. The 10-year U.S. Treasury is up and the yield is down to 2.30%. And riskier asset classes are down. Modestly.

Remember that Trump/Xi meeting last week? The results were lost in the news over U.S. missile strikes against Syria but they are important

Remember that Trump/Xi meeting last week? The results were lost in the news over U.S. missile strikes against Syria but they are important

Because of a fortuitous convergence of self-interest in Washington and Beijing that promise of 100-days of negotiations is likely to result in some meaningful trade concessions from China. Xi and China have an economic problem that greater trade with the United States can address–as long as that trade is in consumer goods.