The SELL AMERICA theme got oversubscribed, but that doesn’t mean it’s over
Ex-ante it would have been hard to argue that a Bessent meeting with China was priced in.
Ex-post, it’s hard to argue it was not.
Furloughs and furlongs. Jobs and jockeys. Payrolls and ponies.
The US might not be dead, AI Capex continues, and the BOJ is dovish. Yeesh.
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