Things that are weird in 2025: (i) the Dollar is down even though tariffs should have pushed it up; (ii) there's no risk premium in Treasury yields, despite huge deficits; (iii) there's no tariff inflation shock; (iv) there's no supply chain disruptions... robinjbrooks.substack.com/p/things-tha...
Inflation shock is coming.
Markets will react until very last second? Nothing has been felt yet. Give it a few months
(v) corruption is rampant, (vi) bitcoin is due for a major correction, (vii) record small business closures/bankruptcies, (viii) incoming tourism down, (ix) agricultural disruption/failures, etc.