4/21/25 Recap

The market is back to full selloff mode as I type this and it really seems like we’re heading back to test those lows from 2 weeks ago. There were hopes that over the long weekend that we would secure some trade deals most notably with Japan but nothing came together. It feels like we’re really losing control of the situation right now. We’re in a Bizarro world watching President Trump speak everyday at this point. The SPY continues lower and he said again today that everyone is lined up to negotiate and things are going well, yesterday he said everyone who didn’t agree with his policies was “bad at business”. I’m not sure what his definition of “going well” is, but the market seems to have no confidence in his plan with Vix futures popping up near 10% again. I’m not sure why any major country has any incentive to negotiate with us right now considering our stocks are plunging, yields are rising, and our dollar is falling to new lows almost daily. It’s not like we’re in the position of strength here to force others to submit to us with everything going wrong in our markets now.

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