Memo To The Bubble-Blind: This Was Not Your Grandfather’s Yield Curve Inversion

We have called him the whirling dervish of policy incoherence, caprice, cocaphony—-and, when push comes-to-shove, cowardice. So yesterday’s Keystone Kops maneuvers on the China tariffs could not be more dispositive. Suddenly, it seems, the 10% tariff on China-made shoes and shirts scheduled for September 1 is just fine—-since there are so many alternative sources of supply that Chinese producers and US […]
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