Macro Morning (Trading Week)

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By Chris Becker 

Another week passes as volatility rises due to the turmoil that is characterising the Trump White House, cascading into deadlocking a Congress that is supposed to be focusing on tax cuts and infrastructure spending which risk markets have already priced in. That upside risk is now reverting as smart money goes to Treasuries and gold, selling off USD in the process. Domestic economic data has abated some of that reversion, but markets remain on tenterhooks, setting for another possible “Sell in May and go away” meme.

As usual for Monday mornings, I’ll take a step back and look at markets with a longer term view as my “Trading Week”.

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