Tremendous room

• People’s Bank of China Governor Yi Gang said his country has “tremendous” monetary and fiscal policy space to make adjustments to the economy should the trade war worsen.
• He also said that his meeting this weekend with U.S. Treasury Secretary Steven Mnuchin would probably be a “productive talk, as always.”
• China’s markets are closed for a holiday today, but the offshore yuan fell the most in three weeks to trade at the weakest level since November, in the wake of the governor’s comments.

(Source: Bloomberg)