Tag Archives: Fiscal

[unable to retrieve full-text content]Shifting intermarket relationships pose challenge for investors. The market is convinced the Fed will not raise rates. Greater uncertainty surrounds the BOJ; there seems less willingness to shock and awe.

The US presidential selection process is well underway, and yet there has been no coherent discussion of fiscal policy. In part, this is because it does not appear particularly urgent. The US deficit peaked in 2009 at 10.1% of GDP.  Last year it stood at what for most OECD countries an enviable 2.6%.  This year and next it is forecast by private sector economists to reach 2.9%. There are many who arguethat monetary policy has been as accommodative as possible.  With the expansion entering...