Denialists far and wide will be happy to know that the Trumpflation hoax has been disproven by none other than Wall Street - the very same people who propagated the hoax in the first place. Go figure. This hoax, believed by desperate morons everywhere, has now been put to rest.
Here is a chart of Tech stocks:
The few people on Wall Street not already short Goldman are shocked, I tell you...
As Johnson & Johnson goes, so goes the market, as history shows:
The real story is the dollar which ironically is getting shellacked because theoretical growth prospects for the rest of the world are now better than the U.S.:
So now the money has to go home...
Growth is slower in the U.S. of course compliments of the Scylla and Charybdis of dumb and dumber:
Although I give the IMF's latest growth forecast the shelf life of a rotten banana, since the deflationary impulse from China is accelerating...
ZH: We Are Losing The (Im)Pulse
The “real” macro story in my eyes overnight is the ongoing commodities fade originating out of China. Iron Ore continued its outright collapse (Qingdao 62% Iron Ore is -17.6% MTD and -30.2% from late February highs), while Aluminum, Copper, Zinc, Lead, Rubber, Gold, Silver, Rebar, Brent / WTI Crude, Gasoline and Nat Gas are all markedly lower.