The Transition to Mid-Cycle: The MUFG Global Markets Podcast

Since the onset of the COVID crisis 18 months ago, the Fed has doubled its balance sheet from $4 to $8 trillion, and Congress has passed $6.2 trillion of fiscal stimulus (with another $2-3 trillion likely in the weeks ahead). This, in turn, has contributed to an acceleration of the recovery cycle accompanied by significant supply-demand imbalances across the economy.

In today’s episode, Tom Joyce, MUFG Head of Capital Markets Strategy, discusses his latest views on the economic / markets / and policy outlook and expectations into year-end 2021 and beyond.

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