Surveillance: Debt Ceiling with Dimon
Bloomberg Surveillance
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The Biden Stimulus
I don't think we've run out all the stimulus. It's probably close to a trillion dollars still of excess savings. We have seen an adjustment in the savings rate, which is still lower than one would expect. The service sector is still going relatively speaking strongly. Maybe it's a rolling recession, but I think it's inevitable. Meghan Horningman moved 15 full basis points in on the two-year yield in a long cup of Sangha - amazing how he moved.
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