A full-scale implementation of the Trump-tariffs will increase inflation and put the US in a recession. The impact on the economy is as permanent as the tariffs
-Bank Report
Today:
Commentary: Dem Economic attack plan, China and Copper
Premium: Copper and Tariff effects
Equity Recap:
US equities rallied on Monday, led higher by tech shares.
Premium Markets:
"Trump Will Cause Recession"
Democrat victory only marginally alters the US’ economic trajectory, Republican victory blows it off course. A full-scale implementation of the Trump-tariffs will increase inflation and put the US in a recession.
The impact on the economy is as permanent as the tariffs, output and price levels do not recover. A partial victory, where Congress is divided, improves economic outcomes relative to full victories.
More excerpts at bottom
ING: China’s Third Plenum provides little support to metals
3rd Plenum not bullish for Metals
China now exporter
China subsidizing domestic demand, not supply materials
Last week’s key Communist Party meeting failed to lay out more policies to prop up demand for metals and we expect copper and other industrial metals to decline further in the near term to reflect a softer demand outlook in China
China’s Third Plenum, a twice-decade policy meeting, wrapped up last week and metal markets have been looking for signs that the government will take action to address the country’s prolonged property slump, the biggest driver for industrial metals demand.
The slowdown in China’s property sector has been a major headwind to copper and other industrial metals demand for over two years. Metal markets have been looking for signs that the government will take action during the key meeting of Communist Party officials in Beijing last week, to address the country’s prolonged property slump but the lack of short-term stimulus disappointed.
