If it wasn’t obvious – don’t expect a fiscal relief deal before Nov 3rd.
Treasury Secretary Steven Mnuchin told us “… getting a deal done before the election will be difficult – as both sides are still far apart on certain issues”
If there’s a hint of the deal being passed – stocks rally – and as soon as we hear comments like the above from Mnuchin – stocks drop.
It’s that time of year folks…. earnings season! Financial titans kick things off tomorrow w/ JPM and Citi.
Will they post record trading results again with near zero rates?
If the price action in JP Morgan is any indication (my favourite US bank to own) – the last four weeks has seen the stock move from $90 to $102 (up over 10%)
Q2 2020 earnings seasons is here. The quarter will be a wash… with the bar set extremely low. But how will companies guide? I am interested in the banks…
Here’s a basic “money” question for you: do you believe that it’s better to have “90 cents in 10 years time” than it is to have $1 in your pocket today?If you said it’s better to have 90 cents in 10 years time… then you don’t understand the time value of money.
