The art of the deal and tax cuts for the US

President Trump promised the USA the art of the deal when he came to office. He conjured a view of a successful businessman cutting a better deal for working America, with a new approach to trade, tax, infrastructure spending and the rest to promote a more prosperous country. Seven months on, some are asking if … Continue reading “The art of the deal and tax cuts for the US”

When smooth waters cause ripples

It is proving to be a healthy quarter of results for US banks and the outlook is fine, regardless of what might or might not happen about regulation. The banks have decent economic growth to thank for much of their own health. Higher interest rates have been good for bank lending and net interest margins … Continue reading “When smooth waters cause ripples”

The Republicans fall out and the dollar weakens

One of the surprises for markets this year has been the weakness of the dollar. Last year, investors built up large speculative positions expecting the dollar to go better. The US was beginning to increase its interest rates and would in due course reduce its stockpile of government bonds held by the Fed. As more … Continue reading “The Republicans fall out and the dollar weakens”