Biden Plans Biggest Federal Tax Hike Since 1993 To Fund Infrastructure, Climate Initiatives
Published: March 15, 2021
Households across the US rejoiced over the weekend as they received their first stimulus checks. And as BofA s team of analysts parses exactly how millions of Americans will spend this money (will they buy washing machines and toasters? Or dump it into crypto/GME?), Bloomberg is out with a chilling report alerting Americans to the inevitable reality that
President Biden is about to switch gears from spending to fundraising.
Of course, we use that term loosely: Despite the fact that Biden just shelled out another $1.85 trillion to finance a third round of stimulus checks (not to mention hundreds of billions in handouts to states and municipalities), his administration isn t raising money to pay for that. Instead, they re looking to finance a Democratic New New Deal .
by Tyler Durden
Tuesday, Mar 16, 2021 - 04:44 AM
Last week in his latest Doubleline webcast, Jeff Gundlach presented a remarkable chart, one showing that the ratio of the Nasdaq to the S&P 500 has been pulled lower (due to Nasdaq underperformance coupled with strength in value stocks) and is now right on its dot com bubble peak levels.
Picking up on this chart, over the weekend in his latest Bear Traps Report, Larry McDonald wrote that
we are sitting on an incredibly important turning point adding that
the world’s first and second most liquid and arguably most important stock indices are sending important rotation signals. In our view, both tech and growth equities outperformance run is over and the rotation to value and commodity exposed equities has begun.
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Growth stocks struggled to stage a comeback amid the broad market rebound this week.
And elevated market volatility is driving demand for single-stock ideas, according to UBS.
The bank shares 13 most compelling counter-consensus stocks and why they are set to outperform.
As investors continued to rotate out of high-growth tech stocks and into once out-of-favor value stocks, contrarian stock pickers who saw it coming are the ones being rewarded handsomely for bucking the trend.
After months of bubble warnings in the market, many high-flying stocks have fallen back to earth. Electric-vehicle maker Tesla has plunged almost 14% in the past month despite having rallied 9.4% over the past week as of Thursday morning.
Gold down $2 to $1719
Gold fell as low as $1699 but has rebounded to virtually unchanged on the day in a solid show of resilience that's been aided by USD softness. By Adam Button
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