Mining Stock Daily Jared Dillian on Transitory Tariff Shock and a Detox From Government Spending
Mar 24, 2025
Jared Dillian, author of the Daily Dirt Nap newsletter and host of DirtCon, shares his insights on market dynamics following a recent Federal Reserve meeting. He discusses the potential for Canadian economic growth under new political leadership and how shifting monetary policies impact inflation. Dillian also explores the idea of a 'detox' from government spending, examining its political implications and future market effects. Additionally, he provides an analysis of the oil sector and its influence on broader commodities.
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Market Behavior
- Jared Dillian's market thesis is stocks down, bonds up, and the dollar down.
- However, he notes that currently, the market is behaving opposite to his predictions.
Oil Sector Bottoming
- Dillian believes the oil sector is bottoming out and forming a base around $68.
- He notes a sentiment of "benign neglect" towards oil, which he views as a positive sign.
Canadian Growth Potential
- Dillian predicts a Canadian growth spurt if Pierre Poilievre wins the election, due to his policies contrasting Trudeau's nine-year term.
- He anticipates a significantly weaker Canadian dollar if Carney wins, potentially reaching 1.60 or 1.70 USD/CAD.