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Interest Rates are Being Cut Don't Fight the Fed

July was another positive month for the S&P, but the “feel-good” period after June G20 meeting in Osaka, Japan lasted only one month. Threats of additional tariffs by the US on Chines import, along with the concern that China is now playing “stall ball” on trade until the 2020 presidential election, has roiled the markets as July turns into August. As we go to press China has taken the “tit-for-tat” trade war to a new level and the markets clearly don’t like it. China is determined to counter the effects of US tariffs and maintain their target growth rate of 6-6.5 percent, but it won’t be easy. As we mentioned above, the government seems to have chosen a path of “waiting out” the US and P


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