Currently the American stock markets are still not open, as the United States celebrated Memorial Day and yesterday was a day off for the US markets. They will begin work later today but are unlikely to make any gains: indices are still weighed down by the tension between the United States and China. President Trump visited Japan, who is one of the most important allies in the region who can help resolve the trade dispute between the two countries, but the meeting did not produce any significant results. Together with stocks, US Treasury Bond yields are also decreasing. In the current environment only safety assets seem to be doing well.
Meanwhile, the European Union continues to draw attention. Now that the elections for European parliament are over, today the Prime Ministers or Presidents of EU countries will gather to select the members of the next European Commission. Prominent candidates for Jean-Claude Juncker’s job include Manfred Weber, Michel Barnier, and Margrethe Vestager.
The trade dispute between the United States and China remains the most important issue still. The two countries have not made statements about each other in a few days, save for Donald Trump’s tweets. There are increasing concerns that the Chinese economy is not doing so well under American pressure and the government even had to seize a bank that was in heavy debt.
