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Capital Market Outlook

June 17, 2024


  • Macro Strategy — Fiscal Dominance Mitigation Measures: In addition to possibly raising the inflation target, there are other measures the government can employ to reduce the pressures that spiraling deficits put on monetary policy.

  • Market View — How Will Foreigners Vote in the U.S. Election?: Think of the greenback as the canary in the coal mine — a leading indicator as to how investors are assessing the future risks associated with the November election.

  • Thought of the Week — Global “Guns & Butter": Higher-for-longer interest rates risk exacerbating fiscal imbalances and have prompted calls for a long-term strategy to reduce them.

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