In a few short hours we’ll be treated to the President-Elect’s much-anticipated first press conference. We’re not sure there’s been a more eagerly awaited event of its kind in memory. As Bloomberg’s Richard Breslow notes, global markets (ex-Mexico and Turkey) have ground to a halt. You can cut the anticipation with a knife.
Will the powerful trends we’ve seen for the last two months continue? Or reverse with a vengeance? All will be revealed. And investors will know exactly which the best trades to set up their year are.
Don’t get your hopes up. But who knows? It’s a must-listen in any case.
Investors will do their best to focus on comments and policy prescriptions specifically aimed at various sectors of the S&P 500. There will be a natural tendency to try to ignore as unpricable potential policies that affect massively important geopolitical and international economic issues. That might work in trading the S&P financials index this afternoon. But perhaps not so well for the Asia dollar index, where the countries comprising that measure are already being forced to speculate on what the acronym might be for a China-led economic and security pact.
This post was published at Zero Hedge on Jan 11, 2017.