On Monday, Stephanie Pomboy, the founder of macro research firm MacroMavens, rained on Wall Street’s victory parade following the trade war de-escalation between the U.S. and China.
What Happened: Referring to the rally as a “headline sugar rush,” Pomboy believes the market is misreading the situation. “To listen to the financial media, you’d think it was the final agreement, and it ain’t,” she said on Kitco News, referring to the temporary tariff pause.
While equities rallied, Treasuries were telling a different story, according to Pomboy, “10-year yield just surged to 4.45%,” she says, calling the instrument “recalcitrant,” given its growing unpredictability and lack of cooperation with macroeconomic signals.