Macro / Misc.

With the House out of session until September 2 and the Senate scheduled to leave for its August recess at the end of this week, trade seems likely to continue to dominate the headlines as…

We wanted to provide an update on the potential breakup of Live Nation and Ticketmaster (LVY) after receiving some client questions on the topic. Our bottom line is that we see a 60-65% probability that…

We expect trade, appropriations and the Epstein controversy to dominate the news flow this week. Both the House and Senate are in session this week with the Senate tentatively scheduled to consider a group of…

We want to provide an update on state legislation that would allow ride-hail drivers for companies such as Uber (UBER) and Lyft (LYFT) to unionize in California. We think that California legislation, AB 1340, the…

We want to highlight four issues this morning: 1) Russian sanctions; 2) trade; 3) Fed Chair Jerome Powell; and 4) increased T-bill demand as a result of the GENIUS Act—all four of which for the…

The main focus in Washington this week will likely be on trade, as negotiations between the U.S. and various trading partners continues.  Speculation surrounding whether President Trump might yet fire Fed Chair Jerome Powell could…

With the U.S.’s Eighth Circuit Court of Appeals vacating the Federal Trade Commission’s (FTC) “click-to-cancel” rule yesterday, we have two main takeaways:  While companies who make it difficult to cancel subscriptions dodged a bullet yesterday,…

We believe legislation to take the 90% gambling loss deduction back to 100% is ultimately likely to become law, but finding a legislative vehicle this year may not be easy. Should enactment leak into next…

Despite some bipartisan optimism in the Senate that the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would provide protections for financial institutions that provide services to the cannabis industry, will be considered this…

We provide our takeaways from a trade and tariff conference call we hosted last week considering tomorrow’s expiration of President Trump’s 90-day pause on reciprocal tariffs, though the effective rates have been pushed to August…