Macro / Misc.

We want to let you know that we are working to set up a trade /tariff conference call for next Wednesday, so keep an eye on your inbox for details.   Below are some quick…

We had a conference call on Monday with a former Trump official and give our takeaways and out updated view on tariffs below. Click here for a link to the conference call transcript and audio…

Recent developments buttress our expectation for an increase in defense spending. A few weeks ago, we told investors when the Trump administration seemingly called for an 8% cut in defense spending that we thought Congress…

Trade will continue to dominate the news this week, while the House is scheduled to consider the budget resolution that the Senate passed early Saturday before both chambers go out on a two-week recess at…

Key Takeaways Even with the market turmoil due to the President Trump’s reciprocal tariffs, we don’t see Trump reversing course in the very near term. In fact, we believe the rhetoric on trade could get…

As we await President Trump’s reciprocal tariff announcement this afternoon, there was some progress on the budget resolution / reconciliation bill yesterday that could:   Make passing the reconciliation / tax bill much cheaper and potentially…

This week looks like an important and busy week in Washington and beyond with: The Senate is seeking to pass their budget resolution by week’s end. President Trump announcing his reciprocal trade policy on April…

We have the following comments about Trump’s auto tariff announcement yesterday, given that some of the guidance was unclear, and in the lead up to the reciprocal tariff announcements expected on April 2. We have…

As we await President Trump’s decision on auto tariffs, we see a lot going on in DC that we want to address: 1) trade; 2) reconciliation; 3) tax cuts; and 4) the debt limit.  Reciprocal…

Congress is back in session for three weeks after a weeklong recess.  Focus this week will likely be on:   President Trump’s tariff announcement next week on April 2.  Negotiations between the House and Senate on…