Yesterday, a puzzling headline hit the tape that felt incongruous to us because instead of retaliating against the White House for a new ban on Chinese carriers, Beijing instead appeared to turn the other cheek by allowing foreign carriers to return to China’s skies.

Now we know why.

With the Dow up 1000 points and the Trump Administration eager to pump stocks even further with news of a de-escalation, however tenuous, the Trump administration announced on Friday that it had scrapped plans to ban Chinese carriers from the US; instead, the DOT will allow Chinese airlines to re-start two flights per week.

Read more…