On Monday, Senate Republicans blocked a bill that would have extended federal funding to early December, provided emergency relief, and suspended the debt ceiling until December 2022. Democrats are now facing a tight deadline.…
According to BCA Research’s European Investment Strategy service, the tactical environment is dangerous for European cyclicals in general, and materials in particular. The fallout from Evergrande’s problem will extend to the…
Power shortages are the latest source of risk clouding the Chinese economic outlook. An intensification of electricity supply issues is forcing factories in several key manufacturing hubs to curtail production. To reduce…
Highlights We cannot predict how China will manage Evergrande precisely but we have a high conviction that it will do whatever it takes to prevent contagion across the property sector. However, China’s stimulus tools are losing…
Highlights The House Ways and Means Committee’s tax proposals are a slight positive surprise for investors. They envision raising $1.5 trillion in new revenue, down from expectations of $2.6 trillion. The House’s tax plans…
The House Ways and Means Committee delivered a positive surprise to President Biden’s tax plan. In a package released on Monday, the Committee increased the top corporate tax rate to 26.5% from 21% and raised the capital gains…
Over the weekend, North Korean state media reported that Pyongyang successfully tested two new long-range cruise missiles. The range attributed to these missiles gives North Korea the ability to target US military bases in South…
Congress’ passage of the American Families Act is a keystone of the President Biden’s legislative agenda. However, to pay for the additional spending, Democrats will seek to levy more taxes on corporations and higher-income…
Highlights Canada has been a G10 leader in innoculating its population. This should allow economic activity to resume, boosting the CAD/USD. A cresting in COVID-19 infections should permit the Bank of Canada to reintroduce a hawkish…