⁠The Kobeissi Letter
BREAKING: The odds of Jerome Powell no longer being Fed Chair in 2025 fall to 12% after Trump says he does not plan to fire him, per @Kalshi. https://t.co/XaNtdLubn4
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⁠The Kobeissi Letter
Gold is extending losses to -4% on the day as a reduction of U.S. tariffs on China appears to be imminent.

Tariffs are expected to come down from 145% to 50%-65%, per WSJ. https://t.co/ImL64ubtTU
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⁠Investing visuals
Which stock popped the most for you today? 🟢 https://t.co/8LcBtDehap
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⁠Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: To our knowledge, Babylon Capital® is the only investment management firm that has:

1. Made the call to buy amid peak fear

2. See a top 5 S&P 500 one-day gain since 1945, within 5 days of that call
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March 20, 2020 | March 24, 2020 +9.38%

April 5, 2025 | April 9 2025 +9.52% https://t.co/T74vsWLjxO
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⁠The Kobeissi Letter
BREAKING: The White House lowering tariffs on China is reportedly contingent on talks with Chinese officials.

Any reductions would reportedly need to be "in conjunction" with China, not unilateral.
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⁠The Kobeissi Letter
BREAKING: US Treasury Secretary Bessent says a trade deal with China may take 2-3 years to reach, declines to comment on WSJ report.

The S&P 500 is paring gains, now down 60 points from its high of the day.
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⁠The Kobeissi Letter
BREAKING: The S&P 500 drops below 5,400 as Treasury Secretary Bessent says he does not have a timeframe for the start of trade talks with China. https://t.co/Z8BX7Q4PPC
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⁠Investing visuals
$TSLA is casually up 4% while posting its lowest automotive sales in nearly 4 years. https://t.co/MGo4QcaHa2
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⁠The Kobeissi Letter
BREAKING: US Treasury Secretary Bessent says there is no unilateral offer from Trump to cut tariffs on China.
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⁠The Kobeissi Letter
Here we go again:

Bessent now saying that President Trump has not offered to take down US tariffs on China on a unilateral basis.

The ball is in China's court and Bessent just said it will take 2-3 years to reach a deal.

How does China respond now? https://t.co/ZM5OhRGXUY
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⁠The Kobeissi Letter
Over the last 24 hours:

1. Trump says tariffs on China won’t be as high as 145% and “will come down substantially"

2. Bessent says "de-escalation with China" is coming

3. WSJ reports that tariffs on China are set to drop to 50%-65%

4. Bessent says America "first does not mean America alone"

5. Bessent declines to comment on WSJ report in point #3

6. Bessent clarifies Trump is not offering a unilateral decrease in tariffs on China

7. Bessent says US-China trade deal will take 2 to 3 years

The market's rollercoaster ride continues.
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