Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Chief Macro Strategist
Summary: Bad news was good news yesterday as significantly weaker than estimated US August consumer confidence and July JOLTS jobs opening pushed the US 10-year yield lower lifting equities, and especially the cyclical sectors such as semiconductors and carmakers. In currencies, the AUD is seeing the strongest bid and in commodity markets crude oil is still supported by tight markets. Peter Garnry on equities and Ole S. Hansen on commodities.
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