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After Scorching First Half, Nobody Knows What Comes Next For Markets
If you didn't know any better, you'd be inclined to think Donald Trump would be pretty pleased with
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Stocks are up a little from jan 18 to today. Revenue and margin trends are not optimistic. Biz spending is slowing. Wage gains remain slower than one would expect. Bal sheets (corp) have deteriorated. Govt bal sheet is poor, Fed ammo is reduced. Employment is near full (though wages remain lower than expected). Geopol is worse today. Not surprising that bonds have rallied and stocks have remained in a range. Cost of equity has risen.