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Push and Pull
It was a week of contrasts and contradictions this week as geopolitical fear oscillated with hopes for peace, the Fed released dovish dots and a hawkish statement followed by super-dovish commentary from Waller and stocks did their best imitation of a sin wave. And the count of countries that have signed a trade deal with the United States as the July 9th deadline nears is exactly one. The EU looks resigned to a 10% tariff and no deal, while Japan, Canada, and Mexico all inch closer to some kind of memorandum of understanding in lieu of a deal because trade deals take months to write up, not weeks or days. The AI and ... (full story)