Bloomberg/Netty Idayu Ismail and Filipe Pacheco/8-25-2019
“If the trade war momentarily played second fiddle to Jerome Powell’s Jackson Hole address, it has come crashing back to the forefront of concerns as most markets prepare to re-open for business Monday. Renewed tension between the U.S. and China has strategists betting investors will continue to seek the safety of government bonds, gold and the Japanese yen.”
USAGOLD note: We had two important meetings of major players this weekend – the central bankers’ meeting in Jackson Hole and the G-7 meeting in Biarritz – and neither seems to have worked out that well. In fact, little was done that could be construed as anything close to market damage control. To the contrary, an argument could be made that much additional damage has been inflicted and that both the central bankers and political leaders have pretty much left the markets to their own devices. We could get an inkling what Monday holds in store when Asia opens in a few hours. . . . .
