US Close: Wild start on Wall Street, Biden’s Tax Fantasy, Apple’s Warning, China Lockdowns send oil lower, King Dollar sends gold lower, Bitcoin breakout


Source: invesbrain.com invesbrain.com

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It’s been a bumpy start to the trading week as bond yields remain elevated as inflation fears continue to chip away whatever solid footing remains for the US economy. It is not 1970s style inflation yet, but eventually risk appetite will struggle as the robust consumer demand softens. Stocks have been resilient and have been somewhat supported on hopes that both the war in Ukraine won’t be a long one and that a lot of the inflation we are currently seeing will ease in the second half of the year. The longer this war lasts, the greater stagflation risks grow...