Today's slide deck: https://bit.ly/4jWq1NY -
Today we sift through the market reaction to Trump's announcement of reciprocal tariffs, with the market celebrating their delayed implementation until at least after the April 1 report on US trade policy. We also discuss the mostly wound-down US earnings season, which has proven the best in three years, the big reversal in bond yields, developments in FX and some great links/must reads (see slide deck link) for those trying to grasp the Trump administration's risky strategy. Today features Jacob Falkencrone, Global Head of Investment Strategy with host John J. Hardy, Global Head of Macro Strategy.
Jacob's piece on BYD: https://bit.ly/4hE819m
John's latest FX Update: https://bit.ly/3X3Axcf
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