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Originally Posted by butterfly
Spin, lol. For the thousandth time, I abhor tariffs as they create needless economic inefficiencies that leave people worse off in the aggregate.
Trump was crowing about it before November. He's made no attempt to hide his agenda, which was multiplied by his implied chance of winning and priced into the equity, forex, and treasury markets long before the election occurred. The yield on the 10-year is up 2 basis points today. Huzzah?
People are flipping out like it's a COVID shock. It's just not a big deal. Trudeau handled it today like he should have on Saturday when almost everyone in the media and online were losing their marbles.
We have a republic here, which means there is no "glorious leader". The power rests in the Congress. Is Justin Trudeau your "glorious leader"? Or would that be Stephen Harper? Take a step back and breathe.
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The market was not fully pricing in an extended period of tariffs at all. Some of it was slightly priced in but the prevailing belief was that he wasn’t going to actually push through with them. If he didn’t push those a month then the market would have bled most of the week. The indexes recovered intraday with the announcement he pushed Mexico by a month.