A nice one by Robin Brooks on X: There's 3 drivers of Trump tariffs:
(i) border security (Canada, Colombia, Mexico); (ii) geopolitics (steel & aluminum); (iii) fairness (reciprocal tariffs & currency manipulation). China is the only country to be tariffed - and will get tariffed more - as it hits all of these...
US Interest Costs Soar to $1.2 Trillion – Now Exceed Defense Spending
Over the last 12 months, US interest payments hit a record $1.2 trillion, surpassing defense spending ($900 billion) and now ranking as the second-largest government expense after Social Security. With trillions in debt maturing this year, the US government will have to refinance. If rates remain stable, total interest payments could skyrocket to $1.5 trillion by year-end. Even in a scenario where the Fed cuts rates by 100 bps (from 4.5% to 3.5%), interest costs are still projected to reach ~$1.3 trillion by the end of 2025. source : BofA
*TRUMP: WILL ANNOUNCE 25% TARIFFS ON STEEL, ALUMINUM MONDAY The largest exporter of steel & aluminum to the US? canada followed by mexico
What happened to the 30 day moratorium on tariffs from Canada & Mexico? Source: Vic_Turbendian
BREAKING: Beginning Monday, China will implement tariffs of up to 15% on $14 billion in U.S. exports, including LNG, coal, crude oil, farm equipment, and select vehicles.
Looks like China is fighting back against Trump's 10% tariffs on Chinese imports that he announced last week... Source: Financial Times
China's retaliatory tariff will hit the United States today.
Here is how the U.S Corporations and consumers will be impacted. Source: Unicus @UnicusResearch
Valuation of Public Companies with Market Caps Over $10B
The gap between European and U.S. equities continues to widen. While U.S. stocks trade at historically high valuations, their European counterparts lag significantly behind. source: A.Arouet
The US economy has been driven by a massive DEBT BUBBLE: In 2024, to generate 1 unit of GDP growth it took $3.8 of national debt...
In Q4 alone, it took $5.8 of debt to create $1 of economic growth. If not for the huge debt, the US economy would have been in a recession. Source: Global Markets Investor
Federal Reserve's Reverse Repo Facility is plummeting
QE & money printing might start aggressively when this drains to 0 Source: Quinten | 048.ethm@QuintenFrancois, Bloomberg
