Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Friday, April 4. Jobs Day.
Read this month’s portfolio update letter here!
State of Play
Stocks got bludgeoned yesterday in reaction to President Trump’s tariffs announcement the previous evening. The damage was widespread and downright historical. Major US indexes had their worst day since Covid.
As we eye our board of indicators for signs of direction at 0540, there is little that points to the story changing very much. Risk off:
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