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Registered Investment Adviser Caleb Lawrence

Ongoing sabre rattling in Syria, and little real progress regarding our nascent trade war with China and others seems to be a non-event for the markets as they enter the final hour with substantial gains.

Import prices were unchanged in March, but on a year ago basis they jumped 3.6%, following a second large decline in energy costs. Export prices advanced .3% for the month and 3.4% on a year ago basis. Trade data is increasingly showing high and rising price pressures. Something that will no doubt be exacerbated by all the tit for tat tariffs.

The Saint Louis Fed Financial Stress Index increased fractionally last week to -.9. Driven by rising political uncertainty, primarily involving China and Syria.

Core Logic is out with a new report that looked at the recent tax cut package and found that, so far at least, it has had minimal if any effect at all on higher priced real estate markets such as those found in coastal California, amongst other locations.

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