HEI: Please do it the easy way, sir

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THE HEISENBERG writes: “I was struck on Monday by US equities’ inability to extend Friday’s post-NFP gains despite a trio of ostensibly positive developments on the trade front.

“Although the behind-the-scenes USMCA drama has played second fiddle to the on-again, off-again relationship between Presidents Trump and Xi, markets have never been enamored with the prospect of ‘new NAFTA’ being trapped in legislative limbo amid the impeachment probe. So, it was good news on Monday when The Washington Post (citing AFL-CIO President Richard Trumka) first reported that the long-stalled trade pact was likely to move ahead. Bloomberg later published a similar piece previewing a “handshake deal” between Bob Lighthizer and Nancy Pelosi.”

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