Editor's Note: Below is a brief excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look. 

“Don’t cry for me, Argentina.”
-Madonna
 

Did the US start a “trade war” with Argentina or Brazil? Nope. The Argentine Peso crashed all on her own. And now President Macri is the one who is going to impose “new taxes on exports.” 

Don't cry for me, Argentina
The truth is, I never left you
All through my wild days, my mad existence
I kept my promise 
Don't keep your distance

Yep, the truth is that #TheCycle never left Latin America. The same consensus Macro Tourists who think every market move is due to “Trump and Trade War” were the ones who came into 2018 long of Emerging Markets because it was allegedly “different this time.”

Welcome back to work, btw. The summer of 2018 was awesome; especially if you travelled the world with #StrongDollars!

CHART OF THE DAY: It's #TheCycle, Stupid! - 09.04.18 EL Chart

CHART OF THE DAY: It's #TheCycle, Stupid! - early look