Hartnett: Stocks Very Vulnerable April 2, Bonds/Gold Should Perform Best

This is a free preview of a paid episode. To hear more, visit vblgoldfix.substack.comHousekeeping: Good afternoon. Short report. Most of Hartnett’s work this week was in his monthly GFMS chart book, excerpts of which are included as well in a 2 for 1 post.Report’s Main Ideas: VulnerabilityTitle: Market not taking tariffs/trade war seriously, may change April 2,; wealth-effect on spending, fiscal excess as reasons for last 5 years. Market may be correct, but positioning is asymmetrically long i.e- Powell put Key Moments:* 2:46- Stock correlation problems* 9:22- BIG Update/ Germany’s spending* 15:03- Hartnett thinks Yield Curve Inversion again* 18:20- Yield Curve told Powell not to cut last year* *21:05- His main point- Global Stocks Are very vulnerable to Tariffs* 33:57- Linda Raschke and a stock trade idea* 37:35- Charts of the month* 40:20- How to use one of his key survey chartsComment: Hartnett’s tone change from “ We’re Long International Stocks” to “Better than US stocks” echoes Dario Perkins parallel piece stating: A US recession would bring down the entire world. (Doomer headline, well reasoned piece). We suggest reading it if you want more on Hartnett’s opinion from a different angle.