On Friday last week, the Iranian foreign minister declared the Strait of Hormuz \u00ab\u00a0Completely Open\u201d and the S&P 500 responded with a whopping weekly gain of 4.5%, convincing many that the stock market was totally irrational and crazy. How can Wall Street ride high on the coattails of a war in Iran and imposition of tariffs, which both negatively affect the supply of energy and the free flow of international trade, thereby raising inflation to new highs, while sapping disposable income, diverting consumer spending and undercutting sales of cheap industrial imports: things that nobody wants?<\/p>\n
A Macro Market View by Hubert Marleau\u00a0<\/em><\/p>\n Continue Reading in PDF<\/a><\/p>\n L’infolettre Palos Perspective est un aper\u00e7u hebdomadaire de la situation macro\u00e9conomique disponible uniquement en anglais. Si vous avez des questions sur l’infolettre ou des demandes g\u00e9n\u00e9rales sur Palos, veuillez nous contacter \u00e0 <\/i>info@palos.ca<\/i><\/a><\/span><\/p>\n