US firms may have sold more to China than Chinese firms sold to the - PowerPoint PPT Presentation

US firms may have sold more to China than Chinese firms sold to the US in 2017 Trade balance vs sales balances (in billions of USD) Source: Deutsche Bank, BEA, China Customs, IMF CDIS, WIND, June 11 th 2018

Federal Reserve hikes rates for the second time this year Upper bound of Federal funds rate reaches 2% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Federal Funds Target Rate - Upper bound Source: Bloomberg, June 15 th 2018

Bunds rallied during the ECB’s press conference Yields fell from 0.5% to 0.44% Source: Bloomberg, June 14 th 2018