By Mark Wilson, Goldman trader and managing director
In a week that contained an abundance of new micro info (from robust US large cap bank results, to an inflection in luxury consumer spend with standout results from both Richemont & Brunello, to confirmation of semi & AI demand trends with TSMC talking up 5yr revenue CAGR of ~20% and AI revenues to double again this year), two larger macro themes dominated markets :
- A break in inflation fears post CPI
- renewed focus on Trump’s imminent 2nd Inauguration and the executive order & policy activity that may follow.
