Markets Now and (Markets Live, its more technologically advanced predecessor) apply a longstanding policy to censor all of Donald Trump’s tweets because they’re rubbish. It’s therefore encouraging to see some newer social media platforms moving towards similar quality control policies using whatever justifications they have available. Over in markets, everything’s gone risk off. Narratives available include a deterioration in Sino-US relations, a deterioration in US-US relations, a running out of fuel for a rebound that was mostly short covering in cyclicals rather than actual open-the-economy optimism, or plain old end-of-month position squaring. Whatever the excuse it all boils down to this: Rolls-Royce has finally been junked. S&P goes down two notches, to BB from BBB- previously.
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Markets Now and (Markets Live, its more technologically advanced predecessor) apply a...