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Open original source ↗Many look at public figure statements or magazine covers and declare that they are contrarian or signal a reversal in a recent financial market trend.
Often they are merely statements noting past market moves. Such statements are of limited value to the contrarian.
But when they give truly “forward-looking predictions” about the NEXT move in financial markets, contrarians jump on them as a signal of an impending trend reversal.
Trump statements today about mortgage rates are exactly the type of forward-looking predictions that contrarian looks for.
He so sure about the FUTURE move in mortgage rates (or bond yields in general) that he’s advising prospective homebuyers to hold off on their purchases because FUTURE financial market moves will benefit them.
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Bloomberg Headlines:
TRUMP ON MORTGAGE RATES: GOING DOWN VERY RAPIDLY
TRUMP TO HOMEBUYERS: SAVE MONEY, WAIT A LITTLE LONGER
TRUMP TO HOMEBUYERS: WAIT, YOU'LL GET A 'VERY LOW' RATE
Quoted context
These are the quoted author’s words.
TRUMP TO HOMEBUYERS: SAVE MONEY, WAIT A LITTLE LONGER
FirstSquawk ↗