As the US-China trade war rages on (China will ultimately lose), an anticipated slow down in the US economy will likely lead to the Federal Reserve slashing rates. As a result, the 10Y-3Mo yield curve just dipped below zero … again.
On the equity side, the Dow crashed over 400 points! To yesterday’s levels.
Meanwhile, the Chinese are devaluing their currency.
Yes, devaluing their currency is playing dirty. But this is TRADE war!
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