Jul. 12 at 3:34 PM
$CCL uncertain short term only trump knows. Intermediate term bullish.
CNBC “Investors’ steady resolve not to recoil at the return last week of bellicose tariff rhetoric from the White House seems to ratify the old Wall Street maxim (which is usually though not always correct) that “the market never discounts the same news twice.” New trade-deal deadline, same threatening terms.
Unlike in the spring, when the proposed rates had shock value and came as part of a broad sense the administration was interested in engineering a “detox” period of pain before gain for the economy, the impact now is seen as contingent and localized.
There is a fair debate to be had about the implications of a “Don’t get fooled again” attitude. For investors, is the resolve to assume tariff threats are bluffs and the impact easily handled a wise stance based on lessons learned in the April overshoot sell-off? Or does it leave them looking on the bright side when the blow comes from the other direction?”
