Justin Lahart
speaker
1,185 appearances
22 recordings
1 series
first heard Jul 2017
last heard Dec 2024
Justin Lahart’s voice in public audio — every appearance, attributed to the second.
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Appearances
That dollar rally is completely unwound now, right?
Some of that has to do with, you know, things doing better in Europe and so on, but really, you know, completely gone.
Even the peso, the peso cratered, the Mexican peso I'm talking about, cratered after the election and that's actually back above its pre-election levels.
If we look at the bond market, Treasury sold off, pushed the yields higher on expectations of inflation.
Treasury yields have slipped this year, even as the Fed has raised rates.
and the inflation expectations embedded in the treasury market have completely unwound.
Then if you look at particular stocks, infrastructure plays, Vulcan Materials, those things have shot up, and they've fallen since.
On the other hand, the overall stock market is looking really strong.
Valuations are really steep.
You have to think some of that is about this –
So it's not earnings so much as this hope that something will get done?
Yeah, it's hard to tease out, right, because some good things have been happening globally.
The U.S.
economy is just sort of doing what the U.S.
economy is doing for a while, but globally we're on much better footing now.
Companies are earning a lot more money overseas, and that's really helped boost earnings.
And we've also seen that if you look within the internals of the stock market,
If you look at high-tax stocks, so the stocks that would benefit the most from a cut in taxes, so those things did really well right after the election, but those have underperformed other stocks significantly.
basically this year.
So definitely the stock market is not as enthusiastic.
Showing 1141–1160 of 1,185 · page 58 of 60
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