$BTC The financial markets began this morning with great calm, with a rebound in stocks, stability in bond yields, and oil recovering its position.
These movements are based on a struggle between two main narratives, the first of which has the advantage at this moment — namely:
Expectations of a less bumpy journey toward a fairer trading system in which the United States gains concessions from its trading partners in a world of generally low tariffs, and the markets receive support from more flexible financial conditions as the Federal Reserve carries out the four cuts that traders are currently signaling.
On the other hand
There are more difficulties ahead with ongoing prolonged negotiations, where reciprocal tariff rates dominate at this moment, the Federal Reserve faces constraints due to the high inflation rate, and the markets are forced to revalue growth expectations outside of the United States.
