Barclays out with a note on the US economy 23 Feb

  • mon pol will likely be reactive to fiscal pol
  • fiscal pol will likely provide short-term boost to economic activity and inflation but long-term effects limited
  • Trump admin may add tariffs on Mexico and China, offset drag with large tax cut, moderate spending package

So we'll take that headline to mean 4 times in total over the next 2 years.

Moderate spending? That view may disappoint those a tad more hawkish.

Meanwhile USDJPY 113.17 still on the back foot and failing to get back above 113.50 in Asia. Demand into 113.00 though.

Nikkei 225 currently down -0.13% at 19353.87 as we head into the close.