Trump gets the headlines, subordinates tidy up the mess

A pattern with the President in foreign policy. He talks loudly and carries a flimsy stick.

He made all kinds of pronouncements and threats in his speech to the UN yesterday but today US ambassador to the UN Nicky Haley is walking them back.

On the Iranian nuclear deal, she said Trump's speech is not a signal that the US will withdraw from the deal, but it was a 'clear signal' that he's not happy with it. She said Iran's Rouhani 'needs to start following the rules' and stop arms smuggling, supporting terrorism and ballistic missile testing, in an interview with CBS.

We'll see if Trump re-certifies the deal on Oct 15.

On North Korea, she said the US has lots of military options but there are steps leading up to that and that the US prefers a diplomatic solution because Trump doesn't want war.

None of this is a big surprise, a few months ago markets learned not to react to what Trump says.