• Risk assets sold off last week, except Real Estate, which pulled further ahead. Border security funding talks collapse with govt funding set to run out Sat morning.
  • Eps expectations continue to fall. Q1 earnings set to be the first yr over yr decline in earnings in nearly three years.
  • US-China trade talks resume this week. Trump-Xi summit is likely in March.
  • Former Fed chair Janet Yellen surprised markets last week saying that the Fed’s next move is likely a Fed rate cut.

Click the image to download.

thumbnail of 20190211 Cypress World Wrap