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We've morphed to a Buy America Back phase
Some months ago, and well before 'Liberation day', we coined the phrase “Sell America Inc.” Post Liberation Day, it became a global thing, at least for a week or so. But
From Sell America To Buy America Back? What's Next
Summary
- Despite all the “Sell America” talk, the dominating impulse in more recent weeks has been “Buy America Back”.
- Equity markets are up, credit spreads down and Treasury yields have calmed. We'll take it, even on a weaker dollar.
- But there are issues ahead. Specifically a double whammy of 4% inflation and more intense issuance pressure.
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