Here, There, And Everywhere Report - February 2025
The bond market has paused its selloff thanks to a revolt by the Republicans in the House of Representatives against much of President Trump’s fiscal agenda. Gone are the lofty projections of the expanded deficit and we are now looking at merely the 2017 tax cuts being extended. This is positive for bonds, but by extension of the relationship also somewhat positive for equities. The US economy, effectively, does not need any more growth and certainly does not need any more inflation. Our thesis that we are at peak fiscal is therefore in effect.
BCA Research | GeoMacro
A blend of geopolitics and macro, synthesizing the new and old macro to generate alpha and identify the beta through probability-weighted market views.
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