Opening Statement from the March 2018 Intelligent Investor
Originally published on March 8, 2018 (pre-market release)
We previously discussed investor concern over the notion of higher than expected interest rates. This sentiment has been responsible for rising treasury yields and (to some extent) recent market volatility. More recently, market volatility has increased as a result of Trump’s announcement of tariffs on steel and aluminum. We stand by our forecast of a 25 basis point hike in short-term interest rates when the Fed meets on March 20-21, moving the rate to an estimated 1.50 to 1.75%.
On March 1, Trump announced that he would impose a 25% tariff and 10% tariff on steel and aluminum imports. As you can imagine...
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