Market comment 2019

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Markets just shrugged off the biggest oil supply disruption in history and the worst funding squeeze since the crisis, but couldn't stomach an itinerary change by Chinese trade negotiators. On Friday afternoon, stocks swooned to their worst day in nearly a month on a headline a canceled visit to farms in Montana and Nebraska. That said a lot about the extent to which US trade policy is still the biggest issue for investors.

 We're All Caught In The Loop - S&P 500 Index (:SP500) | Seeking Alpha

“What really keeps me up at night is the data and the mood getting out of sync and, eventually, the possibility that the mood becomes the self-fulfilling prophecy of the data,” Daly told reporters on Monday at the Symposium on Asian Banking and Finance in Singapore. She warned that if “people are really uncertain, they fear a recession or they fear a downturn and this gets incorporated into their thinking and then they spend or invest less.” Subsequently, “less spending and investment creates a slowdown that we wouldn’t have otherwise had,” she said.

 SF Fed President Mary Daly on US economy, trade war, interest rates