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When a central bank moves interest rates there are three transmissions mechanisms between how rate movements directly influence the real economy.
Michael discusses how he should have taken Trump at his word on tariffs, and the impact of the widening trade war on global growth and equity markets as proposed tariffs approach pre-war levels.
Trade was the hot topic of 2018, with the U.S. administration engaging in negotiations with many major trading partners.
Over the past few weeks, futures markets have begun pricing in an increasing chance that the Federal Reserve (Fed) will cut interest rates at its July meeting. This has also been reflected in the cash bond market, where yields out to the 6-month maturity
Michael discusses US-China trade war in context, the outlook for prescription drug price legislation, and an updated ideological scorecard for 2020 Presidential candidates.
EM currencies have struggled when the PMI has been falling, and thus its equity returns have underperformed versus the U.S. and other developed markets.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
Dan Notto, ERISA Strategist, discusses important changes to the retirement plan landscape if the SECURE Act were to be signed into law.
Why J.P. Morgan Asset Management uses weighted average carbon intensity in its fund reporting