Back in early December most thought the chance of Republicans losing both Georgia Senate run-off seats was pretty low. That has now happened, with a so-called blue sweep upon us.
A Democratic sweep in Georgia led to a substantial upward revision to our US economic forecasts as we expect a new round of fresh stimulus under Biden administration. What will the next fiscal stimulus package look like and when will it pass?
For years people have talked about a robust infrastructure bill, but now it could finally be the time when it happens. How much will Biden spend, and more importantly, can the country afford it given all the COVID fiscal relief measures that have already been passed?
With continued deficit spending fueling a stronger economic outlook, we have seen Treasury yields starting to move higher. Benchmark 10-year Treasury yields recently rose to their highest since the pandemic with the yield curve steepening, a classic reflation signal. How do we expect inflation to evolve in the coming year and could it cause the Fed to pull forward normalization of monetary policy?
What other key items could be part of Biden’s first 100 day plan?
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