We’ve seen these headlines before…
Equity futures in Europe and the US jump on “trade optimism” headlines around 4 am est. The headlines were published by Bloomberg, citing unnamed sources, who said the US and China are moving closer to the number of tariffs that would be rolled back to complete a phase-one trade deal.
The unnamed sources said President Trump’s comments on Tuesday “shouldn’t be understood to mean talks were stalling, as he was speaking off the cuff.”
Sources added a phase-one deal with China is expected to be completed before the next round of tariffs begins on Dec. 15.
E Mini S&P500 jumps 60bps on unnamed sources saying both sides are closer to a deal. We’ve heard these headlines before…
Considering unnamed sources and timing of the pump, this was more fake trade news to save equity futures from a further correction.
Protect E Mini S&P500 3100 at all costs, even if that means pumping a “trade optimism” article that had zero substance to it.
And there it’s, Global Times calling out President Trump and Bloomberg for pumping fake trade news…
I predict there is a high probability that President Trump or a senior US official will openly say in a few hours that China-US trade talks have made a big progress in order to pump up the US stock markets. They’ve been doing this a lot.😀
— Hu Xijin 胡锡进 (@HuXijin_GT) December 4, 2019
And how did Twitter react to more fake trade news?
Well, some on Fintwit exhibited short fuses and took it out directly on the author of the Bloomberg market-moving article.
It’s that fucking whore Jenny Leonard again.
Every single market moving fake news article is written by that slut.
And it’s always unnamed sources. Bitch you’ll get capped. https://t.co/r0N7oDE7bL
— Bovell Global Macro (@Bovell_GM) December 4, 2019
So what? Amount of rollback does Not mean that a deal is any closer. This phase 1 deal was already done in Oct, market already rallied on it Being Done. Fuck me, what a joke.
— onlytrading (@trade4Evr) December 4, 2019
— Leon (@leon_trader) December 4, 2019