House Oversight — Estate records
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From: Thomas Jr., Landon Sent: 11/29/2016 6:33:42 PM To: Jeffrey Epstein [jeeyacation@gmail.com] Subject: Fwd: My Thoughts on Currencies Importance: High The smartest/most amusing piece of research I have read so far on Trump/global economy. You should pass on to DJT brain trust on economy/markets ----------Forwarded message---------- From: Eurizon SLJ Capital Limited <researchgresearch.sljmacro.com> Date: Tue, Nov 29, 2016 at 10:51 AM Subject: My Thoughts on Currencies To: This email is intended for the addressee. Please do not forward this note outside your institution. Thank you for your cooperation. If you would like to refer our research to a friend, please contact us at Research@eurizonsljcapital.com. Click here to view online www.eurizonslicapital.corn My Thoughts on Currencies Stephen L Jen (London) November 29, 2016 Bottom line. Some retracement in the market trends we've seen since November 8 makes sense, in light of the magnitudes of the moves as well as the upcoming event risks (Italian referendum, OPEC meeting, and the FOMC meeting). But I think none of these events will likely surprise the markets, and President-Elect Trump will likely continue to drive the markets, extending the recent trends. By the way, he has left the US Treasury Secretary post last to be filled, and it is the most important appointment for the markets as it will both reflect and influence key policies HOUSE OVERSIGHT 026637 on trade, tax cuts, and infrastructure spending. (1) The doves at the Fed have been silenced as, under President Trump, the US policy mix will likely be less lop-sided and the emphasis will be on Arrow 3, with Arrow 1 being downgraded. I think the effective demotion of the Fed has just begun. Its independence will likely be challenged, as it should be, in my personal view. November 8 marked the beginning of the end of the financial repression in the US. (2) Generating outsized economic growth will be key to settling several i […]