We came into this week with a list of things to think about with the Fed Behind Us, and a SITREP focusing on the Houthis vs Saudi Arabia. We also kicked off the week with a preview on CNBC. Our “official scoring” was stocks did well, Bessent faced setbacks on bonds and the yen, and for the world, well, not as much clarity as we could have hoped for. I was going to go with i instead of ? but √−1 seemed overly complex vs ? even if it is more reflective of the current complex state of the world!
We weighed in on some possibilities in Let’s Make a Deal: NYC Style. We started off with a bang, with the Greenland deal and a pre-summit trade “status quo” extension, but finished the week with a lot of wasted opportunities. The confusing messaging with Ukraine and Russia (confusing on everything except a desire for diesel prices to go lower). The contradictory messaging with Iran: public threats, closed door meetings allegedly leading to a deal, the terms of which seemed to be rejected by the President on Friday after the clo
