JPMorgan: Markets Got Too Excited Over Fiscal Stimulus

The video discusses the excitement around fiscal stimulus following the 2016 U.S. election, highlighting the market's anticipation of infrastructure spending and tax cuts. It examines the performance of banks like Goldman Sachs, attributing their success to steeper yield curves and increased fixed income trading revenues. The discussion also covers the potential impact of repatriating overseas funds, cautioning against over-optimism due to existing low-interest borrowing opportunities.

What is the significance of the steeper yield curves mentioned in the text?

What caution does the speaker express regarding the excitement over returning funds from overseas?