By Garfield Reynolds, Bloomberg Markets Live reporter and strategist
President Donald Trump’s blizzard of tariffs — in most cases only threatened and then delayed — is allowing investors to cherry pick expectations for his administration’s real-world impact.
Market players are generally enthusiastic about expected US tax cuts and deregulation, while overlooking the potential damage from higher tariffs. There’s a risk that money managers are storing up pain for the future by deciding the wildly contradictory headline-trading start to this year is all noise and no signal.
