Break Glass In Case Of Impeachment

Impeachment is a political, not legal, process in the U.S. political system. If Democrats take control of the House of Representatives in 2018, Trump will almost certainly be impeached. Otherwise, it would require “smoking gun” evidence of criminal behavior to turn House Republicans against the president. For now, financial markets will largely ignore impeachment risks and focus on tax cuts. Midterm elections will accelerate their tax-cutting attempts.

To access the full report entitled “Break Glass In Case Of Impeachment”, please click here.

A Global Macro and Market Update: Has the Dollar Peaked?

As the dollar drops to its lowest level since the U.S. election while global equities remain near cyclical highs, in this month’s BCA webcast I addressed the following: 1) the complexion and thrust of global growth by region; 2) the outlook for interest rates and the US dollar; and 3) BCA’s recommended global asset allocation.

Notwithstanding political uncertainty, the fundamental global growth and earnings backdrop continues to flatter developed market global equities over government bonds. The U.S. dollar should rebound as U.S. growth accelerates through the balance of 2017 and markets reset expectations for two more rate hikes.

Listen to the webcast replay here.