Macro: It’s all about elections and keeping status quo
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
Head of Macroeconomic Research
Summary: More evidence of economic progress in the US - the trade gap has narrowed unexpectedly. But, with hopes of a China-US trade deal running high, this print wasn't a market mover.