'Schizophrenic' Markets

Stephen talks about how markets had their Jekyll-and Hyde moments last week. He gives his input on what is at play in the markets and currencies as well as what to expect moving forward. He also believes that the Trump trade is "dead in the water" and talks about the impact on markets from news of the new agreement that the 11 countries in the Trans Pacific Partnership (TPP) trade deal have agreed on for it to move ahead without the United States. We also chat about the recent major development on China taking a major step towards opening its financial system, saying it will remove foreign ownership limits on banks. Speaking about China, Chinese giant Alibaba Group's Singles' Day shopping bonanza generated a record 168.2 billion yuan (US$25.3 billion) in sales over the weekend defying concerns of an economic slowdown. Stephen shares his views on what this record breaking event is telling us. See omnystudio.com/listener for privacy information.