This Morning’s Log Entry

4/23/19 Tuesday

Equities are rallying nicely this morning on very good corporate earnings results. Interestingly, the bond market ain’t buying it (TLT [long-term treasury bond ETF] is also trading higher this morning).

It’ll be interesting to see if traders don’t fade this morning’s strength, if not today, as the week progresses.

Under “normal” conditions, this kind of price action pressing against previous all-time highs would have me humming a very bullish tune and pounding new money (recent client deposits) into equities with abandon (well, so to speak).

Thing is, I think bond traders may be onto something.

Per my comments yesterday, a sustainable move into new heights virtually demands certainty over the present state of geopolitics. This morning’s retweet/tweet by the President, alas, does not inspire certainty:  emphasis mine…

““Harley Davidson has struggled with Tariffs with the EU, currently paying 31%. They’ve had to move production overseas to try and offset some of that Tariff that they’ve been hit with which will rise to 66% in June of 2021.” @MariaBartiromo So unfair to U.S. We will Reciprocate!

Thing is, the EU tariff on Harleys was in retaliation (or “reciprocation”) for the U.S. tariffs on steel and aluminum. So I guess we’ll be retaliating against their retaliation. This is the tit-for-tat that, if it’s for real, will ultimately roil markets. For the moment, however, strong earnings rule!

Share:

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.
vulkan vegas, vulkan casino, vulkan vegas casino, vulkan vegas login, vulkan vegas deutschland, vulkan vegas bonus code, vulkan vegas promo code, vulkan vegas österreich, vulkan vegas erfahrung, vulkan vegas bonus code 50 freispiele, 1win, 1 win, 1win az, 1win giriş, 1win aviator, 1 win az, 1win azerbaycan, 1win yukle, pin up, pinup, pin up casino, pin-up, pinup az, pin-up casino giriş, pin-up casino, pin-up kazino, pin up azerbaycan, pin up az, mostbet, mostbet uz, mostbet skachat, mostbet apk, mostbet uz kirish, mostbet online, mostbet casino, mostbet o'ynash, mostbet uz online, most bet, mostbet, mostbet az, mostbet giriş, mostbet yukle, mostbet indir, mostbet aviator, mostbet casino, mostbet azerbaycan, mostbet yükle, mostbet qeydiyyat