And, just like that, tariffs are back – at least until June 9 when a Federal appeals court’s stay expires.
Futures are off modestly as traders assess the tariff news and hotter than expected personal income and spending prints and PCE prices which were in line with expectations.
University of Michigan consumer sentiment is due out at 10am ET.
continued for members…
ES and SPX are back in their falling channels, but not near enough for bears to rest easy. The picture remains
Comments
2 responses to “Not So Fast…”
Hello PW, could you provide a quick update of your forecast or the Big Picture? I am still confused with the 10 year treasury yield behavior during the Liberation Day stock correction. The yield unusually went up instead when stocks dropped in mid April. When there is a next stock correction, would we get another high yield case like that again? I am trying to understand that. Thank you!
Yes, working on one now that should be posted by this weekend.The 10Y vacillates between rising due to higher inflation and falling due to an equity weakness. It’s further confused by what’s happening with flow from global partners. Will talk about this in the upcoming post.