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How the idea of removing Mexicans from California's economy changed from being a joke to something serious, as explained by John Authers bloomberg.com/opinion/articl…

This is our latest on the global descent from high rates, with Richard A. Abbey and Carolyn Silverman. Hope it's of interest:

$DXY The Dollar continues to struggle & is back ⬇️the 98 level despite lower Treasuries. It continues its relative immunity to those higher Treasury rates. U.S. interest rates continue to be the highest (save for Hong Kong's dollar proxy). The last chart courtesy of John Authers.

For markets, Middle Eastern wars come down to the oil price, says John Authers. Seen in that way, Israel-Iran already looks over bloomberg.com/opinion/newsle…

Trump is making the oil market gyrate again, one social media post at a time, says John Authers. But 'unconditional surrender' comes with strings attached bloomberg.com/opinion/newsle…

Nobody expects the Spanish contradiction. The country is gaining prominence as a counterpoint to the US bloomberg.com/opinion/articl…

Nobody expects the Spanish contradiction, says John Authers. The country is gaining prominence as a counterpoint to the US bloomberg.com/opinion/articl…

Is it over when Trump says it's over? We'll see, John Authers says. It's unclear what Iran has really agreed to bloomberg.com/opinion/newsle…

Yesterday Merryn Somerset Webb and I were joined by the excellent John Authers to chat about why markets had been distinctly unfazed by events in the Middle East. The story has already moved on somewhat but probably still useful for those baffled by the lack of panic podcasts.apple.com/gb/podcast/why…

John Stepek Merryn Somerset Webb John Authers Great chat and thanks for the mention.

The so-called reciprocal tariffs pause is approaching its end on July 8th quietly. The debate on tariff consequences continues with this observation from Chris Wolfe of Pennington Partners, courtesy of John Authers:

Trump has a point on lower rates, but not 1%, says John Authers. If anyone needs Independence Day, it's the Fed bloomberg.com/opinion/newsle…

📈 S&P 500 Price-to-Sales Ratios Near All-Time Highs Valuations in the S&P 500 are approaching record territory again, with the Price-to-Sales ratio hovering close to all-time highs. Such elevated levels can only be justified if corporate profit margins—already historically

You needed good hindsight to forecast the first half, says John Authers. Such as shorting Elon Musk bloomberg.com/opinion/newsle…

If Trump wants lower interest rates, he's doing it all wrong, says former New York Fed President Bill Dudley bloomberg.com/opinion/articl…

Trade deals are hard, Trump has learned over the past 90 days bloomberg.com/news/newslette…

Laos seems to have had a good negotiation: 48% tariff on Liberation Day, from August 1 only 40%....

Trump's tariffs are in the mail, sealed with a diss, says John Authers. But there's still a lot of drama in the letters that haven't gone out yet bloomberg.com/opinion/newsle…

Trump tariffs haven't had a pronounced effect on inflation ahead of next wk's inflation data. Is that a product of lag & assumptions by cos. paying them that tariff levels won't be that high in the end, allowing them 2 limit pass thru to consumers? Chart courtesy of John Authers

Trump's new tariff threats should be a big deal, says John Authers. For markets, they're not bloomberg.com/opinion/newsle…