Category: Macro & Economy
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The K-Shaped Recovery: Two Americas, One Market
Khan Capital | June 2020 Key Takeaways The K-Shaped Economic Recovery: Two Americas Three months after the deepest economic contraction since the Great Depression, the United States is experiencing something unprecedented: a recovery that is simultaneously rapid and incomplete, exuberant and devastating, depending entirely on where you sit in the economic hierarchy. The k-shaped economic…
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The CARES Act: $2.2 Trillion and the Largest Fiscal Experiment in History
Khan Capital | April 2020 Key Takeaways The CARES Act Market Impact: Fiscal Shock and Awe On 27 March 2020, four days after the S&P 500 hit its pandemic low, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. At $2.2 trillion, it was not merely the largest stimulus bill…
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EM Pressure: Turkey, Argentina, and the 2018 Emerging Market Crisis
Khan Capital | June 2018 Key Takeaways EM Under Pressure: Turkey, Argentina, and the 2018 Dollar Squeeze The first half of 2018 has been brutal for emerging markets. After a stellar 2017 in which the MSCI Emerging Markets Index returned 37.8%, the asset class has given back much of its gains as a combination of…
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Tax Cuts and Jobs Act: What Trump’s Tax Reform Means for Markets
The most significant overhaul of the US tax code in three decades has just been signed into law, and the market’s reaction tells only half the story. The Tax Cuts and Jobs Act (TCJA), passed by Congress on 20 December 2017 and signed by President Trump two days later, slashes the corporate rate from 35%…