Ron Filipkowski - This Weekend in Politics, Bulletin 92
… NYT reported that investors are pulling their money out of the US stock market in recent weeks and investing overseas. The S&P 500 had outpaced foreign stock markets for years, but it has fallen 6% just since Trump took office while the DAX index in Germany is up 10%, Europe’s STOXX 600 is up 4%, the Hang Seng in Hong Kong is up 20%, and Mexico’s IPC is up 5% over that span.
… Jitania Kandhari, Dep. Chief Investment Officer for Morgan Stanley: “It is definitely time to be looking outside the US.”
… WaPo reported that over 5 million Americans work in industries that could be impacted by retaliatory tariffs from China and Canada that just went into effect, and the vast majority of them live in counties that voted for Trump. New tariffs from those two countries primarily target the agricultural, manufacturing and energy sectors. Counties that face the greatest potential impact from retaliatory tariffs were three times as likely to have voted for Trump.
… CBC reported that Canada is actively looking for alternatives to the U.S.-built F-35 stealth fighter and will hold conversations with rival aircraft makers. This announcement was one day after Portugal said it intended to cancel their contract to purchase the fighter. Canada was set to purchase $19 billion of the aircraft from Lockheed Martin.
https://www.meidasplus.com/p/this-weekend-in-politics-bulletin-ddb