April Tariff 'Panicans' On Suicide Watch As S&P Closes Near Record High

A mixed set of macro data this morning pushed traders to lean into a mix of pro-cyclical and pro-growth sectors on Thursday, with Energy, Materials, and Communication Services leading the S&P 500 higher - chasing another all time high - while Treasury yields across the curve declined, and the dollar reaching a 3 year low sparked by a WSJ report saying Trump may announce Powell's successor as soon as September increasing expectations of rate cuts (market now pricing in a 25% chance of a July cut / 95% chance of a cut by Sept meeting).