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Druckenmiller uncomfortable with Trump's rhetoric
Stanley Druckenmiller, fund manager and currency trader, overcame May 6 and went to the Treasury. He made the move after Trump tweeted about the increase in tariffs on China.
"When Trump's tweet came out, I went from 93% investment to a net balance and I bought a bunch of Treasurys," Druckenmiller said at an event in New York City. . "Not because I'm trying to make money, I just do not want to play in this environment."
This turned out to be the right choice, with rising bonds and falling stocks. It's an interesting perspective on how a billionaire can be so fast and decisive.
"In fact, I own a lot of Treasurys and when I bought them, I was not sure that the rates would go down, but what I was sure of, is that they would not increase, "he said.
In the future, he is more and more convinced that pricing will be a key element of Trump's toolbox.
Trump "wants to use the tariffs." He thinks it's a winning formula in countries in transition and that the belligerent, a sort of verbose pressure that he puts – and the braggart towards China – he leaves no ramp to Xi Jinping to enter into an agreement "I said.
ForexLive
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