Big US stocks’ profits face lots of downside pressure in coming quarters. Tariffs forcing costs higher portends eroding revenues, forcing bubble valuations even higher, increasing the likelihood of a serious bear.
Once the rally in hope peters out, the art will be in understanding the vast differences and how to navigate the options for two very different forms of economic pain.
Stocks rallied, gold faltered, and oil fell this past week. The US$ Index was up a little while bond yields rose because of the stronger-than-expected job numbers. Will the Fed cut the key interest rate?
