Follow the Money

Both China and the U.S. provided their respective snapshots on the state of global trade earlier this month… The U.S. October trade data showed that the U.S. imports continue to grow at a robust clip.

The prospects for moving from a three month truce to a more durable ceasefire and eventual resolution of the current trade conflict with China have become a central focus of global markets.

Market pressure on Turkey and Argentina has abated a bit, thanks to a large IMF program that funds Argentina for another year and the apparent ability of Turkey’s banks to roll over a large share of their maturing syndicated loans.*