You do know losing money doesn’t cost you anything? MAGA economist Ben taught me that in his “Apologia de Tariffs” video.
1.5 hours until the show starts. Movie time. Trading TINY with humongous stops. And long... Maybe my limit order gets hit...
news, both sides are on a call now to sort the matter out. china wants every tariff off the table from the “beginning”, and no tech sanctions. trump doesn’t know what he wants because he has no written objectives other than deficit talks. if the call goes bad, spx is probably back to 2024 open at minimum, maybe a circuit breaker tomorrow because the chinese will sell and even go short. i remembered 97 asian financial crises, 01 tech bubble, missed the ltcm, 08 gfc, burning midnight oil.
“ Trump Defends Tariffs, Announces Pharmaceutical Levies Coming Soon WSJ· 18:11 President Trump defended the sweeping tariffs he placed on foreign countries during a Tuesday dinner on Capitol Hill with House Republicans and said levies on pharmaceutical products made abroad will be announced "very shortly." Trump said countries are "dying to make a deal," and claimed the U.S. is currently bringing in $2 billion a day from tariffs. Trump imposed a baseline global tariff of 10% earlier this month, and reciprocal tariffs are due to take effect on Wednesday morning. "We're going to tariff our pharmaceuticals and once we do that they're going to come rushing back into our country because we're the big market," Trump said. "So we're going to be announcing very shortly a major tariff on pharmaceuticals and when they hear that, they will leave China, they will leave other places because they have to-most of their product is sold here and they're going to be opening up their plants all over our country."
that is pretext to get to the chinese, most if not all the antibiotics ingredients are from china and india, but mostly from china. china under wto, is binding to a “developed” country standard, pharma ip is fully protected. unlike india, which they can ignore big pharma ip.
ie more trading opportunities. China and India are the main producers for API active pharmaceutical ingredients.
expect a waterfall tomorrow, 10y jumped 65bps in 3 days, that is near 5k swing per contract, a lot, good luck