This has become a meaningless joke at this point. Liberation Day, my ass.

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After a very quiet period on the economic data front, we’ll be faced with a bunch of market movers next week. The big one is Tuesday morning’s CPI. What will Trump do if inflation comes in hot? I don’t know, I guess fire the people that generated them.

My largest short position continues to be long-term US bonds, by way of the fund TLT. This is down about 0.8% today, continuing to tiptoe its way toward what I hope is an historic failure at the 82.68 price level. I’ve tightened up my stop-loss price to 87.30.
