S&P 500 Future, yields portray cautious mood as US President Biden hints at tough talks with China’s Xi – by anilpanchal7 SP500 Futures RiskAppetite YieldCurve China
latest comments from US President Joe Biden and the Federal Reserve Governor Christopher Waller. Also allowing the bulls to take a breather is the lack of major data/events.
That said, Reuters quotes US President Biden as saying that the US communication lines with China would stay open to prevent conflict, with tough talks almost certain in the days ahead. The news also mentioned, “The United States would ‘compete vigorously’ with Beijing while "ensuring competition does not veer into conflict", said Biden, stressing the importance of peace in the Taiwan Strait during an address to the East Asia Summit in Cambodia. He arrived in Bali on Sunday night.
It should be noted that the downbeat prints of US consumer-centric data allowed the US dollar bears to sneak in during the last week. Among them, the Consumer Price Index and the first readings of the University of Michigan Consumer Confidence Index were the keys. Also likely to have improved the market sentiment was Moscow’s retreat from Kherson.
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