Check out Wayne Cole's European and Global Markets the day before

So far, it has been a frustrating day in Asia, as China’s retail sales missteps highlight how far the country must go to move from an export-driven economy to an economy driven by domestic demand. Apparently, consumers there have no urge to buy, and it is not obvious that Beijing wants to change this.

So President Donald Trump told Americans that they must live with fewer dolls and pencils while pushing indirect pressure on Chinese consumers to buy more trade policies.

U.S. Treasury Secretary Bessent went out on Sunday in an effort to provide “integrity” transactions with trading partners or face tariff rates sent by letters. He also suggested that the United States only has time to deal with the top 18 trading partners, and the rest may swing in the breeze.

This still puts the effective tariffs on U.S. imports at about 13%, the highest since the 1930s, equivalent to a rise in tax revenue and a value of 1.2% of GDP, and Trump requires Wal-Mart to eat on profit margins rather than pass it on to voted customers.

Interestingly, this week’s goal, Lowe and Home Depot, has to say what this idea is, which beats that kind of idea of ​​state price setting in a Soviet-style command-control economy.

Trump needs to earn some income from tariffs to fund his tax cuts, which has finally passed the House committee to vote later this week. The massive bill is estimated to increase $3 trillion to $5 trillion in a decade, one of the reasons Moody's joined peers last week to downgrade the U.S.

Ratings have not been very important since the financial crisis, when the secondary collapse caused some institutions and funds to abandon the Triple A reputation.

However, the news seems to be shocked by foreign investors who are already frustrated by the instability of U.S. policy making, while Wall Street futures today fell 1% or more today. Ten-year yields rose by about 5 basis points, despite modestness, the dollar fell.

The European Bulls were won by surprise victory for the pro-EU candidates in the Romanian election and the victory won by centrist parties in Poland and Portugal.

Key developments that could affect the market on Monday:

- My final April CPI data

- Federal Reserve Speaker includes Bank of Atlanta President Rafael Postic

(Edited by Wayne Cole; Edited by Edmund Klamann)