Yellen sticks to Fed message:

No surprises in Fed Chair Yellen’s prepared remarks ahead of her testimony in front of the Joint Economic Committee this morning. In terms of monetary policy, reiterated that the FOMC determined at October meeting that the case for a rate hike had continued to strengthen and a move “could well be appropriate relatively soon”. No […]

Low-quality OPEC deal expected:

OPEC under significant scrutiny with less than two weeks to go before a 30-Nov meeting intended to finalize a preliminary agreement reached in late-September to cut production to 32.5M-33.0M bpd. Note that OPEC produced 33.6M bpd in October. Headlines have been fairly volatile in recent days and while consensus still revolves around the likelihood that […]

For US Businesses, lot of uncertainty about which Trump they will get as president:

While broader market continues to benefit from post-election reflation trade, uncertainty dynamic surrounding a Trump presidency continues to generate a lot of attention. WSJ discussed how US businesses witnessed two very different sides of Donald Trump during the campaign. Pointed out that sometimes Trump was the populist who railed against elites, global trade and immigration. […]

Trump dialing back (some) campaign pledges (including full repeal of Obamacare):

Still a meaningful amount of policy uncertainty when it comes to a Trump administration, though the President-elect has offered a few hints in recent interviews. Told both WSJ and 60 Minutes would consider leaving certain parts of Obamacare, including maintaining the prohibition against insurers denying coverage because of patients’ existing conditions, and a provision that […]

Latest batch of Trump headlines play into uncertainty concerns:

Early market reaction to Trump victory has been very positive. Focus has been on perceived distinction between candidate Trump and President Trump, Fiscal stimulus expectations have also played a meaningful role. While not all directly market related, latest batch of headlines has played into some of the longstanding uncertainty concerns surrounding a Trump presidency. Lot […]