Futures are in a nasty mood tonight except for a new record high in gold.
Trump wanted a weaker dollar to help exports. His wish is granted.
Stocks are falling and bond yields are rising.
US 30-Year Treasury
Euro
Gold
Lower Dollar Wish Granted, Now What?
Trump wants the Fed to cut interest rates. This is another matter on which Trump seems clueless.
If the Fed cut rates, yields on the long end would likely rise further.
But hey, the dollar would continue plunging, the US stock market would be less attractive, and inflation would rise.
This would be described as “winning”.