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3/22/2017 6:40 pm  #1

Wall Street is losing faith in the Trump agenda

Wall Street is losing faith in the Trump agenda

Wall Street's faith in the fate of the Trump agenda has been shaken, if not shattered, by political reality.
This week's market tumble is evidence of how the "Trump trade" that sent stocks and other risky assets booming after the election is showing serious cracks amid President Trump's struggles to push through a replacement for Obamacare.
Not only is the Dow on track for its worst month since January 2016, but other warning lights are flashing, too.

Favorite sectors like banks, manufacturers and small cap stocks are suddenly seeing red. Oil prices have collapsed to $47 a barrel, the U.S. dollar slumped to a four-month low against the Japanese yen and the VIX volatility index has shown signs of life.

Gold, which often rises during times of fear, has soared 8% so far this year and CNNMoney's Fear and Greed Index has swung back into "fear" territory. Cash fleeing to the safety of government bonds have lowered the 10-year Treasury yield down to 2.39%, a dramatic reversal from 2.62% just two weeks ago.
"The bumbling on the health care bill has people losing faith in the Trump Bump," Michael Block, chief market strategist at Rhino Trading, wrote in a note to clients on Wednesday.

We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists. 

3/22/2017 6:57 pm  #2

Re: Wall Street is losing faith in the Trump agenda

Actually Trump has done next to nothing yet to officially (actual legislation)  move the economy one way or the other. Most is based upon speculation. 

That said, I expect some are now wondering IF Trump can do the things he promised. 

"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"

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