Mr. Market is now paying attention to the global risks of war,... while watching lukewarm earnings roll in.
It appears that none of the central banks are interested in quickly cutting rates. The BoE is looking at 50 bps in August (?) then another 25 bps in the November/December time frame. Jerome Powell says we need to continue watching the data points as "there has been a lack of further progress". *I think if we are lucky,... it will be in September.
Nice news:
the Olympic torch has started its 3000-mile run to Paris which will take 68 days.
In a historic first, California's renewable energy now exceeds the demand!
I am attaching the pdf of my April presentation. I promised to send it out even though our meeting was canceled.
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