Markets Keep Playing Chicken With Trump
Financial markets are beginning the week in a remarkably-calm state after the Trump administration spent the weekend escalating its trade war and stepping up its assault on Federal Reserve chair Jerome Powell. The dollar is trading on a slightly firmer footing after posting its best performance since February last week, Treasury yields are up incrementally, and equity futures are pointing to modest selling at the open. Both the euro and Mexican peso are trading only slightly below Friday’s closing levels, even after Trump threatened to impose 30-percent tariffs on imports from August 1 in a pair of early-Saturday missives. Traders...