We are three days into the new administration in Washington and markets are becoming reacquainted with President Trump’s announcements. The initial severity of tariff talk has been muted (away from the fx market) as markets decide to wait and see what actually goes into effect, evidenced by President Trump’s overnight comments that 10% tariffs on Chinese/ European exports could happen. Futures did not hiccup pre-open, but rather stayed green. Away from politics, there is little economic data th…
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