Trade wars continue.

'Trade wars are never bullish for markets. Any further escalation would be a major headwind for markets along with the future direction of interest rates. The Federal Reserve continues to take a hawkish stance of further rate hikes ahead, but the headroom for higher rates is diminishing, thus QT may have to once again become QE, or worse, an outright devaluation of fiat across a number of currencies based on the long term debt cycle which Ray Dalio of Bridgewater has discussed at length'