Macro Morning

By Chris Becker 

Two major factors are keeping markets enthralled at the moment, resulting in scratch sessions for stocks and the usual normal oscillation on currencies. The outcome of the Trump/Xi trade talks this weekend and the too-dovish expectations that the Fed will cut aggressively next month, with Treasuries rising again as interest rate cuts probabilities continue to fall. Gold and Bitcoin are retracing from their blowoff highs as the USD strengthens slightly.

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