, saying a divided Congress is unlikely to be able to do anything to help the economy. Meanwhile corporate earnings forecasts are weakening, and he says they'll keep going down because the rest of the world economy is also weakening.Around the end of the year he thinks
. In his view, that would help European car companies and also encourage more economic growth in the EU.Cecchini says optimism around the potential trade deal was a big contributor to the rally in January and February. But he thinks it's now priced in, and that leaves investors with little to get excited about.
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