What a wild day on the markets yesterday. It seemed that we were linked to pain at the start of the United States before a false title sent surmultipled markets. If anything, it shows two things. First, that it is a market ready to tear the large positive titles involving prices. Second, Trump’s unpredictability makes almost all the headlines.
By reconciling with the false news, we have seen further readjusts. But a point to remember key was that he did not quite annihilate the bin buyers and they returned late yesterday in a certain optimism full of hope.
On the one hand, the United States has shown a certain will in talks with Japan. And I think it is a very big telling Trump’s intentions with regard to the approach to prices. Of course, Japan is an ally of the United States, so there could be biases. But still, it shows a room for maneuver and, in all likelihood, I expect the prices against Japan to be watered down before the deadline tomorrow.
The second thing is that Trump continues to tweet and / or retweet things like these:
“Negotiations with other countries, which have also requested meetings, will start to take place immediately.”
“More than 50 countries have contacted the president to start negotiations …”
“Countries around the world are talking to us. Difficult but equitable parameters are being adjusted.”
“Secretary of the Treasury, Scott Bessent: nearly 70 countries have now approached us to want to rebalance the world trade …”
As a reminder, Trump’s prices come into effect in approximately 24 hours (April 9, 12 noon). Even if some countries may not be able to obtain offers or conclude a compromise by then, this does not mean that it will not have in the coming days / weeks.
It is therefore the main thing to watch. Trump will want to demonstrate his determination by showing that he is serious about the implementation of prices. But given the above, this shows that they may not be permanent as long as there are commercial negotiations.
The only Joker remains, however, China. And it is a great risk that wider markets should not ignore. An escalation in the trade conflict between the two biggest economies in the world is required to have repercussions around the world. So it is a key factor whose risk transactions must be wary despite optimism.
It was Trump’s last verbal dam towards China during the night:
“Yesterday, China expressed reprisals of 34%, in addition to their already record prices, non-monetary prices, the illegal subsidy of companies and the massive long-term currency manipulation, despite my warning that any country that redirects the United States by issuing additional rates, beyond their country, beyond our country, beyond our country, beyond our country, beyond our country, beyond our country, beyond our country, beyond our country Beyond our incentive at the end.
