Under the circumstances, while voters of course prefer paying lower taxes to higher taxes, there’s no particular reason to think that a sharp tax increase would be macroeconomically damaging. Drawing ...
Macroeconomically, the US August CPI year-on-year rate significantly declined from the previous value, increasing market expectations of an economic slowdown. Economic data, especially manufacturing ...
Macroeconomically, that was justified by good retail sales figure lifting up 25bp cut odds – subsequently countered by 50bp trial balloons by select public speakers. The uncertainty about 25bp vs.
However, my view is that industrials in general are coming into a rough stretch, macroeconomically speaking, and that PAVE's holdings in particular are not well set up for a falling interest rate ...