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In tonight's FIR, we simply chat about how things are on hold, waiting for the outcome of the Trump/Xi meeting this week at the G20. What happens if there's a deal? What happens if there's no deal? And what about Iran? The rhetoric there is getting pretty thick.
A shorter letter than normal, simply because that's all there is to talk about market wise. This weekend will decide the market's next move.
Now the wait
This will be one of the shortest Financial Intelligence Reports of the year. Why? We’re in a holding pattern.
Just 4 sessions ago, we had set new all-time highs. But since then things have faded a bit, as market participants wait to see what’s going to happen with 1) Iran and the back and forth there, and 2) the weekend chat between Trump and China’s Xi.