Payne's Perspective: August 12, 2019: Mind the Gap
It was a crazy week for the stock market. Once the dust settled by the closing bell on Friday, anyone on vacation that hadn’t seen the action or paid attention to the news would have figured out it was a ho-hum week and congratulated themselves for taking the week off.
Of course, it was more like a humdinger than a ho-hum as the US-China trade war moved into a new phase that includes open currency manipulation and conventionally moving farther away from the notion there will be a resolution. I think the market had already come to grips with the notion that a deal would be a long way off – many believe it will never happen.
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