BAML's Gordon Sees Market Comfortable Playing Trump Trade

The video discusses the potential for tax reform under the Trump administration and its impact on markets. It highlights the market's initial optimism, followed by uncertainty due to aggressive trade rhetoric and unclear timelines for fiscal reform. The discussion covers market paranoia, growth aspects of Trump's policies, and the inherent tensions between fiscal and trade policies. The video also explores the debate around the border adjustment tax and its implications for markets, considering the political dynamics in Congress.

What was one of the reasons for the initial market uncertainty regarding Trump's fiscal reform?

• Aggressive trade rhetoric

• High oil prices

• Strong US dollar

• Stable interest rates

How did the market perceive the growth-positive aspects of Trump's fiscal policy?

• Highly skeptical

• Overly optimistic

• Completely indifferent

• Too pessimistic

What is one of the key platforms of Trump's campaign that is considered positive for the dollar?

• Increasing trade tariffs

• Lowering corporate tax rates

• Raising interest rates

• Reducing government spending

What inherent tension exists in Trump's policies according to the discussion?

• Between fiscal stimulus and trade rhetoric

• Between energy independence and environmental protection

• Between healthcare reform and tax cuts

• Between military spending and education funding

What is the ongoing process regarding the border adjustment tax?

• Making it more protectionist

• Structuring it to be more palatable

• Eliminating it entirely

• Increasing its rate