The "Shock & Awe" Narrative is Behind Us, But This Cannot Hold Up the Market Forever
A more dovish narrative will soon give way the realities of the economic outlook
In today’s edition, we highlight how the major shift in rhetoric from the Administration on the tariff issue was able help the stock market bounce nicely. However, now that the oversold condition has been worked off, it’s going to be much harder to justify today’s (still) expensive level in the stock market…..Also, the action in the USDJPY could create some problems again soon.
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