Posted To: MBS Commentary

Bonds took Trump at his word in the wee hours of Tuesday morning with respect to waiting until Nov 2020 (or later) to finalize a trade deal with China. I suggested that was a silly thing to do at the time because not only was it likely a mere negotiation tactic, but there's also too great a risk his hand is forced well before then. As Thursday begins, the buzz is that the impeachment hearing could be one of those things that forces his hand. In other words, beating the Dec 15th tariff implementation deadline, presenting the world a phase 1 deal, and utterly juicing the stock market 2 weeks before Christmas would make him look rather triumphant (and thus perhaps raise additional doubts about the impeachment process). All of the above is a cute and tidy little narrative, but reality is stranger…(read more)

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Source: Mortgage News Daily