Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Trader Strategy
Chief Investment Officer
Summary: As we predicted, policymakers rushed to the aid of late-2018's faltering markets with more of the same: credit and a QT pause. Clearly, a new narrative is needed, and we think it's time to re-evaluate risk.