Sweet Talking Guy

Sweet-talking guy, saying rates will not rise. If you do believe in him, you believe the stocks will fly. He says he will be patient as he slows the balance sheet winddown. He's a sweet-talking guy. Sweet-talking guy, but he's my kind of guy. Oh, that sweet talker Fed Chairman Jerome Powell. He was sweeter than sugar, smoother than wine and said all the things the market wanted to hear. The sweet-talking Fed Chairman helped oil add to its best one month run since April of 2015. Oh sure oil was coming back from an ignominious price crash based on fear because of what they say was a stubborn and unmovable Fed, but seeing that the Fed now has listened to the market and sees the risk associated with a policy that seemed frozen in time. Now, all we must see is progress on the U.S. China trade talks and oil will be back on track to retest those 2018, $77 dollar a barrel highs. Cooler heads are prevailing in the energy complex and it only took a polar vortex to get us there.

We also hope to see cooler heads in the U.S. China trade dispute. Bloomberg News reports that President Donald Trump will meet China’s top trade negotiator in the Oval Office on Thursday for high-level talks, with little indication that Beijing will bend to American demands to deepen economic reforms.U.S. Trade Representative Robert Lighthizer will lead a second and final day of negotiations with Chinese Vice Premier Liu He, the highest-level talks since Trump met Chinese President Xi Jinping on Dec. 1 and declared a 90-day truce to reach a lasting deal to end the trade war. Trump is scheduled to meet Liu at 3:30 p.m., according to an email of his schedule from the White House. While a breakthrough deal is seen as unlikely from this round of negotiations, the White House has said a concluding statement will be released on the progress they’ve made on core issues such as Chinese technology transfers, intellectual property practices, market access and Beijing’s pledge to buy more American goods.

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