CAD at 7 month high vs USD

Trump: We don't really want cars from Canada.

Trump: At some point, it won't make economic sense for Canada to build those cars.

Trump: We protect Canada militarily and we always will. [always? 👀]

Trump referring to Canada: This is a very friendly conversation.

Trump ends remarks with Carney [ignore macro FUD, BTFD]

UK & US close to trade deal with lower tariffs -FT

🚨Vol Control, CTAs & Risk Parity flows at the bottom 4th percentile. -Nomura [BTFD now before their flows start coming back and macro turns bullish]

🚨China's Vice Premier He Lifeng to meet with US's Bessent

Spot gold down 1% on report Bessent to meet with China

S&P 500 futures surge over +1% on report Bessent to meet with China

🚨China’s Central Bank Unveils Major Monetary Policy Easing Measures

Bloomberg's Eric Zhu: The People’s Bank of China is spearheading efforts to shield the economy from the trade-war shock with a rate cut and other monetary support. The move echoes a strategy used last September, when the PBOC took the lead in delivering stimulus and fiscal support followed

PBOC: Starting from May 7, 2025, the relending rate will be reduced by 0.25 percentage points.

Pinpoint chief economist Zhiwei Zhang: China's timing of monetary stimulus is likely tied to developments in the foreign exchange market, the current USD/CNH level indicates there is no longer significant pressure for the yuan to depreciate against the dollar, especially after several Asian currencies have appreciated recently.

Deutsche: US companies are set to repurchase a record $500 billion of their own shares. Stronger-than-expected earnings have left companies flush with cash, while trade tensions and depressed stock prices have made buybacks an appealing option.

ING: China's recent monetary stimulus package is likely timed to coincide with the upcoming US-China trade talks

Citi: Beijing's latest 10-measure stimulus package is a timely and strategic move that could provide leverage ahead of potential trade negotiations with the US

Capital Economics Zichun Huang: "Today’s easing measures are no substitute for an expansion in fiscal support, the economic impact of the announced policies is likely to be positive but modest."