The Supreme Court and tariffs: volatility ahead

plus: blech markets, liquidity squeeze, US manufacturing and more

“Concentrated power is not rendered harmless by the good intentions of those who create it.” – Milton Friedman ||

Hello everyone! I hope you’re all taking care of yourselves – the sprint leading into the end of the year always gets manic.

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IN THIS NEWSLETTER:

• The Supreme Court and tariffs: volatility ahead

• Macro-Crypto Bits: blech markets, liquidity squeeze, US manufacturing

WHAT I’M WATCHING:

The Supreme Court and tariffs: volatility ahead

Markets are strangely complacent about tomorrow’s Supreme Court hearing on the Administration’s tariffs.

True, we won’t know the outcome for a few weeks yet – but, whichever way it goes will add caverns of uncertainty to the market outlook.