September 26, 2018 | Daily JAM, Morning Briefing |
This morning in a speech before a session of the United Nations Security Council that he hosted President Donald Trump charged that China is attempting to interfere in the 2018 midterm congressional elections and alleged Beijing seeks to help his opponents. The...
September 24, 2018 | Daily JAM, Morning Briefing, Short Term |
Two more shoes dropped today--or actually overnight--in the U.S.-China trade war. The big question at this point is How many total shoes there might be still to drop? Are we dealing with a centipede here? At midnight last night, Washington time, the latest round of...
September 21, 2018 | Daily JAM |
A survey by investment companies AmCham China and AmCham Shanghai found that 52.1% of U.S. companies operating in China have seen an increase in non-tariff barriers to their business operations. The biggest problems reported were increased inspections (27.1%), slower...
September 21, 2018 | Daily JAM |
Did you see this coming? I certainly didn't. You might call it "doubling down with a vengeance." I'm sure officials in Beijing see it that way. Yesterday, Thursday, September 20, the United States announced sanctions on China’s Equipment Development Department, the...
September 20, 2018 | Daily JAM, Morning Briefing, Short Term |
Today the Standard & Poor's 500 stock index and the Dow Jones Industrial Average both hit record highs. The NASDAQ Composite was up 0.99% as of 2 p.m. New York time. The iShares MSCI Emerging Markets ETF (EEM) advanced 0.95%. West Texas Intermediate crude was off...
September 19, 2018 | Daily JAM, Morning Briefing |
Just hours after the Trump administration announced 10% tariffs on an additional $200 billion in Chinese exports, Chinese Premier Li Keqiang said the nation wouldn’t devalue its currency in order to make its exports more competitive. Which, of course, doesn't mean the...
September 18, 2018 | Daily JAM, Mid Term |
Talk about frustratingly lagging data. China’s holdings of U.S. Treasuries fell to a six-month low in July, according to the latest data from the Treasury Department released today. The first found of U.S. tariffs went into effect on July 6. China’s ownership of U.S....
September 18, 2018 | Daily JAM, Morning Briefing, Short Term |
A day after the Trump administration announced 10% tariffs on an additional $200 billion in Chinese exports to the United States, stocks are up on a "It could have been worse" reaction. At 12:30 p.m. New York time the Standard & Poor's 500 stock index was ahead...
September 17, 2018 | Daily JAM |
Global financial markets spent most of the day waiting for the shoe to drop. And shortly after 6 p.m. Washington time it did. President Donald Trump announced a 10% tariff on an additional $200 billion in Chinese exports to the United States. Those tariffs will go...
September 17, 2018 | Daily JAM |
Overnight--and that means before the latest saber rattling today from Washington and Beijing--the Shanghai Composite Index dropped another 1.1% to 2651.79. That took the market below the January 2016 bottom of one of the market's worst ever routs. The Shanghai index...
September 17, 2018 | Daily JAM, Morning Briefing, Short Term, VIX |
For much of today U.S. stocks were locked in a slightly negative range as investors and traders vacillated from fears that the Trump administration would impose a new set of tariffs on $200 billion in Chinese goods and the hope that Chinese leader Xi Jinping would...
September 15, 2018 | Short Term |
...U.S. stocks to move in lockstep with news from the U.S.-China tariff war. As the last week emphatically demonstrated, right now U.S. stocks go up on days when there's news that suggests the two sides will resolve their conflict short of an all out war. This past...