Good morning traders!
You thought the stock market was bound to spiral higher and that all of you summer expenses would be covered by this rally — but you were wrong and subsequently destroyed. President Trump has opened up a new trade war with Mexico and they’re going to pay for the wall — whether they like it or not. Periodt.
Over in Europe, the gamblers there are being shattered, root to crown, based off what exactly? I don’t see the connection between a North American trade spat and Germany. At any rate, the ripple effects of this fresh round of protectionism is having a deleterious effect on just about everything — sans bonds.
WTI -2%
BTC -5%
Nasdaq futs -105
And the 10yr treasury is now nearly 7bps to a new low of 2.157%, whilst the 3mo is flat at 2.368%.
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sans bonds and perhaps PMs …with /gc knocking on a breakout above the 1304.2 level
30-yr US bonds. Easiest. Fucking Trade. Ever.
Not too late.
Although I do think we are due for a bounce back to 2800 at some point (not today….) which would make a better buying opportunity for Treasuries
You like losing your ass on overpriced bonds?
The FED has my back. There are a lot of other markets that will collapse before US bonds.
Here’s a prediction:
Even if Stocks get near ATHs, Treasury bonds will still be higher than they were at the end of April
Goddamnit, this will definitely have price impacts on my Costco avocados.
Remember when Gary Cohn was around and Trump pretended to listen to him for a couple months? At least there was a mild amount of hope at that point.
Enjoy the Ride,
2 Wheels
And so what happens when Mexico actually stops a caravan and Trump takes the tariff off? BTATFH?
VIX up 8% overnight. Tells you all about today.
Vix is just warming up.