Plus, why the ‘Trump trades’ may be overdone
In this edition a Scotiabank strategist is definitively not bullish on the loonie, Citi says take profit on “Trump trades”, and an academic judges 20th century thinkers as risers or fallers.
Scotiabank does not think even the current yield differential is priced into the domestic currency, which is his reason number two. The loonie’s value is relatively unchanged in the past 12 months but the yield differential for the Canadian two-year bond has widened from 42 basis points lower than Treasuries to 102 basis points lower.
Election ‘Trump trade’ investors are ahead of themselves The U.S. presidential election is entering the home stretch and asset prices are attempting to discount the results. A recent Wall Street Journal poll has Donald Trump with a narrow lead. Diversions Is your favourite philosopher a riser or faller? The Marginal Revolution site linked to academic Arnold Kling’s substack where he published an informal assessment of which 18th and 19th century thinkers have risen or fallen in prominence. I don‘t pretend to know the work of every name mentioned but I both liked the concept and might use the post as a resource to look up some writings by authors I’ve heard of but never read.
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