The financial markets have been following the see-saw of the China trade negotiations with bated breath, mimicking the talking heads every move, every nuance, every whisper.
After decades of market experience by the CD Media team, it seems to us that markets are looking for any excuse to move higher, no matter the negative influences and realities that are out there. Reduced bond market liquidity, intense risk from trade talks with China, war with Iran, or even impeachment, the market takes no notice.
The financial markets are a leading indicator, and they want to go higher, no matter what, taking any excuse to add points to the board.
This tells us Trump will be fine, impeachment will fail, and we will see another American century of prosperity. After an initial downdraft based on China negative’s comments regarding a full trade deal, (they don’t want it as we have been saying for months) White House Economic Advisor Larry Kudlow issued some rather bland assurances and the market roared back into positive territory as we write.
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