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Slow Week
Steel yourself. This could be a tediously slow week on the macro front.
The data docket in the US i
“Eighty-six” is also used to refer to customers who have been banned or booted. If the bar manager says, “Eighty-six that loud-mouthed jackass,” it means kick him out.
GOP can bengazi for years. But now they’re even more anti-democratic and bafooninsh. Not to mention more thuggish. Imagine Comey in an El Savador gulag. Maybe we won’t have to imagine that.
Bessent interview says Liberation Day tariffs likely to be reinstated for many countries.
“Welker asked Bessent about Trump’s recent comments that trading partners should expect letters from administration officials outlining what the tariff rate will be and if that signals that negotiations are over.
“This means that they’re not negotiating in good faith. They are going to get a letter saying, ‘Here is the rate.’ So, I was expect that everyone would come and negotiate in good faith,” the secretary said.”
https://thehill.com/homenews/administration/5306258-bessent-warns-tariff-liberation-day-rates/
If the “deals by letters” upends the market’s expectation/hope for a 10/50 tariff tax regime, that could count as excitement.
Can we guess who has not been, in the WH’s mind, negotiating in good faith?
My guess is EU, Japan among them.
Japan’s frustration is so palpable. They tried, God knows they did. I’m a Japanophile. Lived there for a year. I can see them being on the list, but I hope not.
The EU is definitely on the list. Vance and the other Russophiles all have it in for the EU.
I anticipate that Vietnam will not like the letter they get. Apart from their obvious role as a trade barrier circumvention hub for China, I suspect that deep down, Trump’s embarrassed about his shin splints and blames Vietnam for them.
Beyond that? Columbia maybe. South Africa. That island where those fascist seals are lording it over the oppressed penguin freedom fighters.
Not Russia though.
South Korea probably too.
Gosh, who isn’t on the list of likely bad faith negotiatees?
I think “Liberation Day: The Sequel” will be as much of a flop as the OG.
Will caebon-based investors & specs simply shrug off DJT’s threat against Walmart on Saturday? As T-Dog nicely laid out in “Where’s the Next Bull Market”, the company did not appear to be acting rapiously like Pepsico did a few years back as Covid waned.
Or will the street “analysts” so beloved by our Dear Leader, continue to parrot the riduculous assertion that Trump is business-friendly?
If you had to pick the company least vulnerable to Trump retribution, WMT might be it.
The GOAT “scholar with a specialty in slang?”
Surely Sugarpuss O’Shea…
https://youtu.be/eDjYPOk5wMg?si=8Sije0DnTPtDlk61