since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
Boring summer day. The market started down a little. Tariff news stirred up some minor bearish vibes today and equities traded down small. Dip-buyers repaired the damage from2 PM
on and we finished down small. Ho hum.The tariff stuff is almost completely insignificant as a catalyst at this point. We are numb/accustomed to the back-and-forth. This is either reasonable or dangerous.
Whether it’s one or the other is completely outcome dependent too.
What I mean is that if tariffs actually get levied and they lead to trade reduction and GDP drags, or a true trade war, our currently blasé attitude will be dangerous… but only in hindsight.
And if all this tariff business is bluster and it leads to new/modified agreements, our currently blasé attitude will be reasonable… but only in hindsight.
The market expects a clean positive resolution to the trade/tariff situation.
We’ll only find out months from now. In the meantime, it’s summer and nobody’s worried about much.
See youMonday
, have a great weekend, Happy Father’s Day,-Mike