“It’s T-Day” – Trader Warns “Standby For Disappointment”

Tuesday, February 28, 2017
By Paul Martin

by Tyler Durden
Feb 28, 2017

T-day has arrived for markets, says Bloomberg’s (and former FX trader) Mark Cudmore, warning that Trump’s speech to Congress will probably terminate the last vestiges of market hope for early inflationary action from the new administration.

It’s not a done deal though. He could still surprise positively. It seems improbable given his track record, but it’s the possibility that’s kept this moment in focus as being so critical.

Expectations have been guided much lower during the past few days, which has lowered the bar for Trump to exceed them, on the headlines at least Trading shouldn’t be an emotional business, but it so frequently is. Too often, traders find their reasoning evolves to suit their positions rather than their positions evolving to match fundamentals.

This has led more and more people to start saying that the rally since the election was not really to do with any hopes of Trump stimulus, and purely about a clear trend of improving economic data.

The Rest…HERE

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