Headlines discussed at LNWM’s Monday morning briefing:
— The US threatened US tariffs on $500 billion worth of Chinese imports, escalating trade rhetoric.
— President Trump criticized the Federal Reserve for raising interest rates; wants weaker US dollar.
— The Chinese yuan continued to lose value and is down almost 8% in the last two months.
— Yields on longer-term US Treasury bonds rose faster than short-term ones, steepening the yield curve.
— US crude oil prices (now at $70/barrel) finished down for the 3rd straight week on rising supply.
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