This is a trend that has already begun this year, with major EM central banks already enacting rate cuts, or at least postponing planned rate hikes.
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.
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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.
The housing market faces demographic headwind, with population slowing dramatically for several reasons; which has resulted in diminished demand for housing.