The market is up big today on news from President Trump he is pushing out Tariffs until December. The recent pessimism and drop in equity market prices set the stage for a short-covering rally that was ignited by the President’s tweet. The truth is we are more focused on the move lower in Bond Yields that should stimulate growth as we move toward 2020. Mortgage rates have come down dramatically, banks are still lending, unemployment is historically low, and confidence remains high – that is not the precursor to an imminent recession.
Remember folks, the bull story isn’t trying to invest off a trade tweet, it is investing off what the trade volatility has done to interest rates and Fed policy direction – both of which should lead to better economic activity in the quarters ahead.
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