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Risk continues to come off the table as..........>

US
US: Risk continues to come off the table as President Trump talks on Fox
Business about cutting off ties to China ("There are many things we could
do...we could cut off the whole relationship...and what would happen: you would
save $500 billion.") And saying he is not not talking to China's Xi. Ahead of
November election, where a combative stance toward China is likely to be a
central focus in Trump's campaign, not good for risk appetite.
- Not to mention an above-consensus initial jobless claims number, though that
looks to have been largely ignored by rates markets.
- 2771.00 (May 4 low) is key support for S&P futures to watch - we're now around
the lows at 2,777, off 1.2% on the session.

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