Ongoing Mideast Hostilities and the Latest Trump Tariffs Are Reasons to Worry

Alphabet soup: capex guidance will determine if we'll cry in it

Key Takeaways

• A New Deck of Global Risks: After a solid and broad-based bounce yesterday, the overnight action has dealt us a new deck of cards as investors wake up to ongoing hostilities in the Middle East, with the U.S. carrying out its bombing for the eleventh day and the Houthis now returning to action and threatening to cut off Red Sea transit (at the Bab el-Mandeb port). Tack on the fact that President Trump is back on the tariff warpath, targeting not just Canada, but twelve countries in total with a fresh round of replacement levies.