In a bizarre development, one day after the FT, WSJ and Bloomberg all reported that the US is preparing restrictions on Chinese investments in the US, moments ago Steven Mnuchin tweeted – on behalf of Donald Trump – that the stories are “false, fake news.”
On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake news. The leaker either doesn’t exist or know the subject very well.
However, while some read into this as a potential “risk on” catalyst, what Mnuchin also said that the “statement will be out not specific to China, but to all countries that are trying to steal our technology.“
In other words, not just China but everyone’s investments in the US could be limited!
His tweet:
On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake news. The leaker either doesn’t exist or know the subject very well. Statement will be out not specific to China, but to all countries that are trying to steal our technology.
On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake news. The leaker either doesn’t exist or know the subject very well. Statement will be out not specific to China, but to all countries that are trying to steal our technology.
— Steven Mnuchin (@stevenmnuchin1) June 25, 2018
There has been no market reaction so far, with stocks largely unchanged, FX flat and 10y TSY near session lows at 2.8750%.
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