One of Wall St.’s premier investors says S&P 500 may tumble 16% by summer’s end because markets never ‘had a trade war like this’

Enjoy Thursday’s muted stock-market bounce, because Scott Minerd of Guggenheim Partners says it won’t last for very long. The chief investment officer and one of the world’s premier bond-fund managers, in a late-Wednesday interview, told MarketWatch that the equity market is likely to stage a mini-rebound in the coming sessions — but then, watch out. Read More @ https://www.marketwatch.com/story/one-of-wall-sts-premier-investors-says-sp-500-may-tumble-16-by-summers-end-because-markets-never-had-a-trade-war-like-this-2019-05-30?siteid=rss&rss=1

WHAT IS THE TECHNICAL CHARTS SAYING INCLUDING PSEi?

Global stocks drop on fears of expanding trade war

Global equities tumbled and safe-haven sovereign bonds surged Friday after U.S. President Donald Trump’s unexpected threat of tariffs on Mexican goods added to fears that escalating trade wars will push the U.S. and other major economies into recession.

The yield on Germany’s 10-year government bond – regarded as one of the safest assets in the world – fell to a record low while U.S. Treasury yields slipped to 20-month lows.

Washington says it will impose a 5% tariff beginning June 10, which would then rise steadily to 25% until illegal immigration across the southern border is stopped. Trump tweeted the decision late Thursday, catching markets by surprise.

“Very clearly when we all thought that the main trade tensions in the world were between the U.S. and China or perhaps between the U.S. and Europe, we hadn’t realized there will be another trade tension with Mexico … and it raises concerns about who the next country may be,” said Andrew Milligan, head of global strategy at Aberdeen Standard Investments. Read More @ https://www.reuters.com/article/us-global-markets/global-stocks-drop-on-fears-of-expanding-trade-war-idUSKCN1T1035?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

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