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Stocks have steadied this morning after the unilateral declaration by President Trump that stimulus talks were over was partially walked back later. As usual with President Trump, the market is viewing this as some part of a negotiation tactic, and this is limiting how much risk can move aversely. That is together with the ‘Fed put’ and its trillions in policy stimulus!However, that Fed Chair Powell had spoken yesterday warning of ‘prolonged’ economic pain without more fiscal support risks leaving the White House holding the can in the event of further negative economic news, all within a... Read More
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