The March trade balance numbers were reported today. As expected, there was massive front-running before tariffs kicked in.

The April numbers, which will be reported next month, should show a large contraction, with front-running finished.

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Bullish?

Un-bullish, de-bullish, some even might say non-bullish

I know the answer is going to be highly speculative but where are the dollars that foreign entities get from the front-running going? Doesn’t seem to be US assets for the most part.

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