Either the market really doesn’t believe that President Trump will do it… or all the scare-mongering panic among establishment globalists is much ado about nothing… because US equity markets refuse to stay down!
Trade War, buy it!
Italian Elections, buy it!
Of course – this could just be the machines running stops…300-point-plus swing in The Dow
As a reminder, a surging stock market will do nothing to drag Trump away from the Trade War ledge – the establishment is gonna need a bigger crash to spook him away from tariffs (think TARP). As Deutsche’s Alan Ruskin previously explained, with widespread reports that the President has ignored the advice of leading advisors like Gary Cohn, it has become rational for those who believe in free trade to wish for a sharp decline in the stock market, as something the President may listen to on this issue.