Big Day Ahead for Executive Orders
Markets bracing for an executive order onslaught after today’s inauguration
Highlights
• Markets bracing for an executive order onslaught after today’s inauguration
• Futures pricing +100 basis points above the Fed’s neutral estimate by end-2025 (opportunity?)
• Canada is not well-positioned for a full-blown trade war with the U.S.
• Three reasons there is a false glow to U.S. growth momentum
Key Takeaways
Futures Gain Ahead of Trump Inauguration
• Cash equity markets are closed for MLK day, but U.S. futures are squarely in the green ahead of President Trump’s inauguration and his expected onslaught of 100+ executive orders (other asset classes have been tame overnight, but more volatility is a safe bet).
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