Stock market ready to ramp on Happy China & Powell Talk from Bessent and Trump
It’s a continuation of the wax-on, wax-off, wax on again way of Trump’s messaging. If Trump keeps making big claims and then backing off of them, sooner or later a critical mass of people are going to think “oh, it’s just Trump going off again; it’ll pass”.
Of course Trump is not going to fire Powell. Someone with some economic savvy probably pulled him aside and said ‘if you fire Powell, and install a stooge who will do your bidding (drop the Funds rate), the financial and social fallout from the inflation that follows [considering the state of long-term yields] will stop and end your presidency in its tracks”…
You can tap the image if you want to read all about it…
Below are yesterday’s entries in the NFTRH Daily Notes: I sold UVXY a couple days ago thinking I might be leaving money on the table. But that greed was superseded by the realization that Trump and Bessent can and will deliver market messages as they feel is needed. I think bears are going to win this war, but they’re going to lose a lot of battles along the way.
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