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。昨天早上有报道称，唐纳德•特朗普(Donald Trump)会见了国会共和党人，讨论解雇美联储主席杰伊•鲍威尔(Jay Powell)。金融市场一度恐慌。在不到一小时内，2年期美国国债收益率下跌了6个基点，标普500指数下跌0.8%，美元也走弱。随后，总统否认了整个事件，金融市场随之回升。我们不确定总统到底在玩什么把戏。尽管他否认有解雇鲍威尔的计划，但据称曾有一份解雇鲍威尔的草拟信件，并有传言称继任人选已经确定。如有想法，请给我们发邮件：[email protected]。