Michele Cesari
๐—จ๐—ฆ ๐—™๐—ฒ๐—ฑ๐—ฒ๐—ฟ๐—ฎ๐—น ๐—–๐—ผ๐˜‚๐—ฟ๐˜ ๐—•๐—น๐—ผ๐—ฐ๐—ธ๐˜€ ๐—ง๐—ฟ๐˜‚๐—บ๐—ฝ ๐—ง๐—ฎ๐—ฟ๐—ถ๐—ณ๐—ณ๐˜€: โ€˜๐—ง๐—ต๐—ฒ๐˜† ๐—”๐—ฟ๐—ฒ ๐—œ๐—น๐—น๐—ฒ๐—ด๐—ฎ๐—นโ€™ The US Court of International Trade has issued a landmark ruling, temporarily blocking Donald Trumpโ€™s global tariffs imposed under the International Emergency Economic Powers Act of 1977. According to the court, the law does not grant the president unlimited authority to impose tariffs on a global scale. This is a significant political and commercial development that may eventually reach the Supreme Court. Meanwhile, markets have posted strong gains over the past month, supported by solid corporate earnings, expectations of fiscal and monetary stimulus, and renewed risk appetite. However, signs of economic fragility remain. Recent macro data โ€” including falling producer prices in the US and weak GDP figures from Japan โ€” point to a fragmented and uncertain global environment. Moreover, historically reliable indicators are flashing warning signs: the yield curve inversion suggests that the risk of a US recession is very high, while the Buffett Indicator signals that the US stock market is overvalued. In this context, itโ€™s essential for investors to avoid euphoria, stay selective, and focus on assets with strong fundamentals. $SPX500 $NSDQ100 $BTC
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