⁠The Kobeissi Letter
BREAKING: The Volatility Index surges above 40 for the first time since August 2024 Yen Carry Trade collapse.

What will it take for capitulation? https://t.co/kMrSKDqdHV

The "World War 3" of Trade Wars Has Begun:

Americans are waking up to the first MAJOR tariff retaliation against President Trump.

China has announced 34% tariffs on ALL US goods with the S&P 500's 2-day losses now at -$3.5 TRILLION.

Here's what just happened.

(a thread) https://t.co/snIbLMV24D - The Kobeissi Letter
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⁠The Kobeissi Letter
Wedbush Securities says the price of iPhones will rise from $1,000 to $3,500 due to tariffs. https://t.co/spqCA57ias
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⁠The Kobeissi Letter
RT @TKL_Adam: The real plan all along was to lower interest rates and lower oil prices as soon as possible.

The 10-year note yield is down -90 bps and oil prices are down -25%.

The tariffs are "working" as planned. https://t.co/PaZRoQ7RL1
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⁠The Kobeissi Letter
Follow @TKL_Adam for market insights directly from our Editor-in-Chief!

The real plan all along was to lower interest rates and lower oil prices as soon as possible.

The 10-year note yield is down -90 bps and oil prices are down -25%.

The tariffs are "working" as planned. https://t.co/PaZRoQ7RL1 - Adam Kobeissi
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⁠Finding Compounders
Not all stock repurchase programs create value !

So just blindly screening for companies that are buying back stock is not effective .

Source : Accounting for Value ( https://t.co/kjHNBrkviJ) https://t.co/PTitFUbTH8
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⁠The Kobeissi Letter
China's response was personal:

On top of 34% tariffs, they have imposed export controls on 7 types of rare earth metals.

China knows how important rare earth metals have been for President Trump. https://t.co/Vx4aSaijA1
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⁠The Kobeissi Letter
BREAKING: The US economy adds 228,000 jobs in March, above expectations of 137,000.

The unemployment rate rises to 4.2%, above expectations of 4.1%.

The February jobs number was revised down from 140,000 to 116,000.

We continue to see rising unemployment rates in the US.
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⁠Hidden Value Gems
This is from ChatGPT, but I also remember learning about the benefits of trade for economic growth at uni...

I guess the hope here is that the US is not a dictatorship with checks and balances in place.

I asked Chat to come up with the previous periods of tariff rises and their outcomes 👇
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⁠The Kobeissi Letter
BREAKING: President Trump tells investors "my policies will never change."

Buckle up. https://t.co/ZZW4b97V3Q
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⁠The Kobeissi Letter
BREAKING: President Trump just now, "WE CAN'T LOSE!!!"

A long trade war is ahead of us. https://t.co/6KCsHp0a8v

The "World War 3" of Trade Wars Has Begun:

Americans are waking up to the first MAJOR tariff retaliation against President Trump.

China has announced 34% tariffs on ALL US goods with the S&P 500's 2-day losses now at -$3.5 TRILLION.

Here's what just happened.

(a thread) https://t.co/snIbLMV24D - The Kobeissi Letter
tweet