Zigzagging Markets

(1) Insane volatility. (2) Stocks fall on some better-than-expected earnings, but rise on other positive surprises. (3) No recession out there unless trade wars break out. (4) Investors aren’t sure whether rate hikes and yield curve flattening are bearish or not. (5) If the Fed is ahead of inflation, then expansion can continue for a long while. (6) Deregulation is bullish, while regulation is bearish. But what if they happen at the same time? (7) The Trump reality show: We are all in it together, like it or not. (8) The dollar’s recent strength may be signaling weaker global economy, or reflecting divergence in central bank policies. (9) Firm commodity prices suggest global economy growth remains firm.