Today's slide deck: https://bit.ly/32D6nAd -
Today we look at US President Biden looking to nearly double the capital gains tax in an American Families Plan to be delivered at a joint session of Congress next Wednesday and the implications for assets. If Biden is able to push through the planned changes for the US tax code, it would represent the largest policy shift since the Reagan Revolution. The announcement triggered a sell-off in equities and crypto. Elsewhere, we look at the effect of ambitious climate targets announced at a climate summit yesterday in the equity space and inflationary pressures in Europe from carbon pricing and globally from a further rise in food prices. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Intro and outro music by AShamaluevMusic
The US dollar is a financial condition, too.
Equities throwing down the gauntlet, how will Fed respond?
US yields jump, capping complacency
Soft CPI revives risk rally, but treasury reaction creates dissonance.
When is the great disinflation bet derailed?
Bears finally get a hook
The market is not for turning
Market complacency and the 2008 parallels.
Market is not ready for stagflation
Yield pop elicits complacent shrug from equities
Taiwan tensions and a possible market pivot
Financial conditions in the driver’s seat
Careful what you wish for, market.
Market indulges in risk-on after weak Powell pushback
Leaning against the market’s lean into FOMC
VIX below 25 with this backdrop? You must be kidding...
Huge week ahead on earnings and Fed guidance
USD breakout, commodities plunging, and equities love ’junk’
RBA hikes and inflation trades are back
Recession fears are pulling commodities and bond yields lower
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