After tumbling yesterday, US equities are surging this morning ahead of payrolls…

 

Here’s why:

• New anti-establishment Italian government? Check.
• New anti-establishment, socialist Spanish government? Check.
• Trade war between the US and Europe, Mexico, & Canada? Check.
• Deutsche Bank (most systemically risky bank in the world at one point) downgraded to a B-handle? Check.

So all we need now is a dismal jobs or wage growth print and bad news will be really great news.

But did Trump just spoil the hopes of a bad print?