With the Bull market on Wall Street entering its ninth year, questions about how much longer the second longest running Bull has yet to run are beginning to swirl. Historically, the average Bull market on Wall Street has lasted 54-months from trough to peak. The current Bull is almost 97-months old. The total market capitalization of the Russell-3,000 index, the broadest measure of the stock market is close to $31-trillion, compared to $10-trillion at its lowest point of the Bear market that ended eight years ago.
As President Donald Trump himself used to say on the campaign trail –
“Politicians are all talk and no action,” and…….
“If you don’t deliver the goods, people will eventually catch on.” – Trump in the Art of the Deal
The gambit was straight out of Trump’s playbook; he told House Republicans that it was now or never to repeal and replace Obamacare and demanded a vote by Friday. No more negotiations….
After only 10-days on the job; the Trump administration didn’t wait too long to fire off the first shot in what might become a series of volleys in a protracted currency war over the value of the Euro vs the US$. One of Mr Trump’s top trade advisers, Peter Navarro accused Germany on January 30th – of using a “grossly undervalued” Euro to “exploit the US and its EU partners in foreign trade,” in a piece published in the Financial Times newspaper. Navarro, now in charge of Mr Trump’s new…
On February 7th, France’s Finance chief Michel Sapin, trying to stem the rise in French borrowing costs in recent weeks, on uncertainty regarding the outcome of the upcoming French election, warned traders who were betting against the Euro and betting a on victory by Marine Le Pen, – they are guaranteed to lose a lot of money. “Those who, in good faith or by speculation, bet against France because they think Le Pen can win are not only…