“Nowadays, we have markets that have gone up or markets that have crashed. When they rise, the powers-that-be are doing their jobs and investors are getting their just rewards. When they go down, everyone just got their pockets picked.”
“Trump is doubling down on his hardline autocratic approach, ensuring that markets wonâ€™t be able to overlook the implications of his immigration order. U.S. equities look worryingly vulnerable.”
One wonders if Navarro’s comments might just reflect the political biases of Steve Bannon, whose Breitbart News has been fanning the populist flames in Europe for years in an apparent effort to bolster the prospects of nationalist politicians in France, the Netherlands, and yes, Germany.
“While this return is nearly twice the equity market and suggests markets have already priced in much of the reflation theme for 2017, we do believe there is still upside from here of c.5%”