Fed Minutes: Cap and Trade

Fed Minutes: Cap and Trade

The minutes of the May Federal Open Market Committee (FOMC) meeting, released Wednesday, provided (as expected) more information on the committee’s thinking about how and when to start the policy of normalizing the size of the Federal Reserve’s balance...
Is the reflation trade over?

Is the reflation trade over?

“Trump trades” have run out of steam lately, amid growing market skepticism about the likelihood of significant near-term U.S. tax reform and infrastructure spending. Yet we believe the bigger-picture reflation trade has room to run. This week’s...