Either the market really doesn’t believe that President Trump will do it… or all the scare-mongering panic among establishment globalists is much ado about nothing… because US equity markets refuse to stay down!

Trade War, buy it!

Italian Elections, buy it!

Of course – this could just be the machines running stops…300-point-plus swing in The Dow

As a reminder, a surging stock market will do nothing to drag Trump away from the Trade War ledge – the establishment is gonna need a bigger crash to spook him away from tariffs (think TARP).