All In

All In The Big Beautiful Bill is a very big economic bet. We will leave the dissection of the bill and the various pros and cons and who wins and who loses to others. The big economic picture is that in order for debt relative ro GDP to decline, GDP growth needs to outpace growth […]
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Tick-Tock

Tick-Tock Tariff concerns went out the window as geopolitical turmoil took center stage. That may now be reversing. In just 11 days (July 9), the 90-day pause on reciprocal tariffs—which was the catalyst for the second quarter rally—theoretically ends. As you may recall, Liberation Day 1.0 was very unpleasant, will Liberation Day 2.0 be different? […]
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A Time for Steady Hands

A Time for Steady Hands The market volatility this week has been jarring — some of the most intense swings we’ve seen since the early days of the COVID-19 crisis. Much of it has been driven by the announcement of substantial new tariffs under what Trump has labeled “Liberation Day,” a move that is not […]
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