The European Central Bank (ECB) announced Thursday an indefinite supply of fresh asset purchases and deeper cuts to interest rates, into negative territory, as it tries to prop up the ailing euro zone economy. These are EU financial counter-measures to the geopolitical trade realignment triggered by U.S. President Trump.
The EU is driving down the value of their currency in an effort to help prop-up the French and German economies that are dependent on exports. In essence, the financial and economic positions of the EU and China are connected. The more pressure the U.S. (Trump administration) puts on China, the less China can purchase from the EU.
With that as the backdrop, Treasury Secretary Steven Mnuchin holds an impromptu press conference outside the White House on China trade, Huawei and the bond market.