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10Y dollar S&P 500

Stocks Fall, Gold Spikes As Trump Ends Manufacturing Council

TRUMP SAYS ENDING MANUFACTURING COUNCIL & STRATEGY FORUM

It looks like the market might finally be realizing that politics matter. 

Because just as this tweet hit…

…we got an immediate risk-off move across assets.

  • S&P 500 DIPS TO LOWS, GOLD FUTURES SPIKE AFTER TRUMP COMMENTS

Here’s stocks, the dollar, and yields (in descending order):

Trump

And here’s gold and the VIX…

Gold

Just to be clear: this is what everyone was afraid of. Trump can’t get out of his own way.

And while initially that only impeded progress on his growth-friendly agenda, his erratic behavior is now deep-sixing the agenda altogether.

Recall what Bloomberg’s Ye Xie said on Tuesday evening:

Trump‘s press conference on infrastructure quickly swerved to him launching new controversial comments on that deadly confrontation between protesters in Virginia. It’s a typical pattern of his political woes stealing the limelight from the economic agenda.

More to come…

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2 comments on “Stocks Fall, Gold Spikes As Trump Ends Manufacturing Council

  1. Yellen’s comment to herself:

    “I am shocked…..SHOCKED…that Trump is not making America great again. Who could POSSIBLY have seen this coming?”

  2. Well, the Peckerheads at Berkeley knew this all along….

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