Good morning. Yesterday morning it was reported that Donald Trump met congressional Republicans to discuss firing Federal Reserve chair Jay Powell. Markets freaked. In less than an hour, 2-year Treasury yields fell 6 basis points, the S&P 500 fell 0.8 per cent and the dollar dropped. The president then denied the whole thing and markets recovered. We’re not sure what game the president is playing. While he denies plans to sack Powell, there was reportedly a draft letter firing Powell, and rumours are circulating that a replacement has been selected. Email us: [email protected].
早上好。昨天早上有報導稱,唐納•川普(Donald Trump)會見了國會共和黨人,討論解僱美聯準主席傑伊•鮑爾(Jay Powell)。金融市場一度恐慌。在不到一小時內,2年期美國國債收益率下跌了6個基點,標普500指數下跌0.8%,美元也走弱。隨後,總統否認了整個事件,金融市場隨之回升。我們不確定總統到底在玩什麼把戲。儘管他否認有解僱鮑爾的計劃,但據稱曾有一份解僱鮑爾的草擬信件,並有傳言稱繼任人選已經確定。如有想法,請給我們發郵件:[email protected]。