June 2019 Economic Recap
China and the U.S. came to a truce and agreed to resume trade negotiations. The truce required some reprieve on Huawei and for the U.S. not to impose additional tariffs. In exchange, China agreed to buy large quantities of American farm products. The agreement helped spark a rebound in equity markets, though a deal is still a distant ways away.
Christine Lagarde was nominated by European leaders to become president of the ECB when current president Mario Draghi’s term ends October 31st. Lagarde has since relinquished her responsibilities as IMF Managing Director. Lagarde is expected to be dovish on monetary policy and to support Draghi’s anticipated 10-15 basis point rate cut in September.
For a deeper consideration of the economic data released during June, please follow the links below: