Pre-Market Open Brief. (This Is What's Happening).
From Greg M
Lions…
This is just a quick pre-market brief for you.
Market Pre-Tremors.
Futures opened higher across the board however, bond yields are markedly higher. Treasury yields are not cooperating, bond stress returning to the surface.
Drug Price Controls Reaction Begins. Pharma stocks are uneasy, and political voices are scrambling to define it as “negotiation,” not “price fixing.”
More Central Bank Contradictions. ECB and Fed speakers are walking a tightrope talking their new “disinflation” catchphrase. (What happened to inflation being temporary/transitory?)
Translation? Babylon’s is saying they will do whatever it takes, for now, to maintain the illusion. Are we surprised?
GM
US Treasusry Secretary Bessent says the US "can always go back" to April 2nd levels for tariffs on China.
Bessent says it is "implausible" for tariffs on China to go below 10%.
He also says current tariff levels are the floor and April 2nd levels are the ceiling.
Looks like a blowoff top is coming this yr. There’s a measured moved that will carry us to 7500 on the
S& P