There were a few basic tenets behind the impressive rally through the first four months of the year, that just four weeks ago had taken the stock market to new highs and made the bears look foolish.
1. A trade deal with China. This was supposed to be a done deal by now. Instead, we have a spreading trade war between the world’s two dominant economic powerhouses. 4. The Fed pivot would shave the strength in the U.S. dollar, and pave the way for a durable rally in emerging markets and commodities. The DXY U.S. dollar index is strengthening, not weakening, and this is a critical constraint on global liquidity.
7. Infrastructure spending. Remember at the start of the year when hopes were high that this was one area where there was bipartisan support? Well, that got kiboshed on Wednesday when the President stepped back from any such initiative until the Democrats cease their investigations.
America is doing fine their last quarter GDP was 3.2% Canada’s under Trudeau was 0.1% - now who is doing great and who is headed for a crushing recession....?
au contraire - Donald Trump's war on China is setting in
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