Taking Things in Stride: Stimulus, COVID-19, and Inflation: DB- Dec22, 2020

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 22 December 2020

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real Vision senior editor Ash Bennington joins Tony Greer of TG Macro to discuss the new fiscal package from Congress, the macro signals Tony has his eye on, and his outlook for the new year. Tony discusses how the spending package is insufficient, especially for American families, and describes the markets’ reaction as slightly “sell the fact” as made evident by the DXY’s modest but noticeable bounce. After Ash reviews some of the current data for COVID-19 hospitalizations in the U.S., Tony says that markets are still looking past this information and are more focused on the reopening. He also describes the relationship of the dollar and equities as it relates to the Fed’s modus operandi to create inflation with a weaker dollar. Finally, he shares the new opportunity that he sees emerging for U.S. financials, what he’s looking out for in the new year, and why he’s holding onto more dry powder during this holiday season. In the intro, editor Jack Farley covers Ripple's SEC investigation, U.S. bankruptcies, as well as market flow data. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:28.1	Te's and sees apply. Welcome to Real Vision.
0:33.0	It's Tuesday, December 22nd, 2020, just after 2 p.m. in New York.
0:48.0	This is the Real Vision Daily Briefing. I'm Ash Bennington joined shortly by Tony Greer, but first with the day's stories, Jack Farley.
0:57.6	Thanks, Ash. Equity has drooped this morning before having a midday bounce with the NASDAQ leading the way, the S&P roughly flat, and the Dow Jones firmly in the red.
1:07.0	Commodities had a rough day today, copper was down 1.7% alongside oil, and gold was down almost a full point.
1:13.4	In other news, cryptocurrency Ripple Labs announced it will face a lawsuit from the SEC
1:18.3	over whether the cryptocurrency it issued Ripple or XRP is a, quote quote security that should have been registered with the agency.
1:25.9	The currency ripple is the third largest crypto asset by market cap.
1:30.0	Now I'm by no means an expert in the space, but I'm told that Ripple has prided itself on being one of the more highly compliant
1:37.5	crypto currencies in the wild west of crypto, you know, something that's more legally blessed.
1:42.3	So this action by the SEC is, to say the least, a big deal,
1:46.4	particularly because Ethereum and Bitcoin
1:49.1	have been ruled by the SEC to not be securities.
1:52.6	XRP dropped 10% today, which sounds like a lot,
	...

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