020 7898 0500After Tuesday’s panic, the stock markets recovered yesterday. Investors still remain concerned that Trump could cause a full-blown trade war with China, but the People’s Bank of China Governor, Yi Gang, urged people to remain calm. He pointed to China’s economy remaining solid and said there was no reason for panic.
Fears have abated a little for now, but China is still not backing down from Trump’s threat to impose $200 billion of tariffs on Chinese imports. US Commerce Secretary, Wilbur Ross, said that Trump’s strategy is to make clear to China that they must change their behaviour.
Today we have initial jobless claims up to 16 June, while tomorrow we will see a raft of purchasing managers’ index data. It will be interesting to see how a variety of sectors have performed in June.
