Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Chief Investment Strategist
Summary: Equities in Asia traded mixed overnight while U.S. Futures - led by the Nasdaq - rose ahead of a holiday shortened trading session for U.S. stocks and bonds. The dollar traded softer on a drop in U.S. bond yields while the yen rose against most major currencies as global coronavirus cases continue to surge higher. Gold and silver remain stuck close to key support, oil trades lower amid tensions ahead of next week's OPEC+ meeting while copper traded near a seven-year high on falling global inventories led by China.
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