Analysts at Rabobank are expecting markets to be drunk on Soviet champagne today, but don’t overlook that there are still a huge number of moving parts before we even get to a scenario of can-kicking.
Key Quotes
“This week Trump meets North Korea’s Kim in Vietnam. Trump wants Kim to disarm or to be his ally, not China’s pet. But Xi has final sign-off. What happens if Xi doesn’t let Kim agree what Trump wants?”
“Markets also need to be looking at what is happening in Venezuela, where blood is being spilled at the border and things look like they could be about to escalate significantly.”
“Data-wise we have US wholesale inventories today; US housing starts and consumer confidence tomorrow; Eurozone confidence surveys, US trade and factory orders, and Canadian CPI on Wednesday along with the Fed’s Powell’s semi-annual testimony, which is the same day as USTR Lighthizer also speaks; Thursday has China’s PMIs, German CPI, and US Q4 GDP and the Chicago PMI; and Friday has another Powell speech, Eurozone CPI, and US personal income/spending and ISM surveys.”
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