Complacency?
Over the weekend, Trump killed the tentative Hormuz deal (which had basically just re-stated the previous memorandum of understanding from earlier in the summer) that had sparked a rally in equities the previous week and disappointed global markets reacted by sending interest rates and energy prices spiraling higher again, pulling stocks lower in Asia and Europe. Despite reported apparent broad investor confidence (complacency?), Wall Street was on edge and suffered the same fate on Monday as US stock indexes and bond prices tumbled.
Consumer sentiment has plunged to levels not seen in years…
The skinny
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