RenMac RenMac Off-Script: Mysterious Market Reactions
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Jan 23, 2026 A lively deep dive into how the Fed chair decision and political moves are driving bond and equity flows. Japan’s yield normalization and global repatriation risks get unpacked. Conversations cover Davos takeaways on trade, rare earths, and strategic mineral policy. Market internals like breadth, regional banks, and small-cap leadership are highlighted as signs of improving market health.
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Minerals Strategy To Cut China’s Leverage
- The U.S. is pursuing strategic mineral access to reduce China’s leverage in rare earths and critical minerals.
- Secretary O'Rourke will host a minerals ministerial to expand allied access and resilience in supply chains.
Fed Pick Drives Bond-Market Moves
- Bond market moves recently reflected Fed pick odds more than macro data, signaling political risk in rate expectations.
- Neil Dutta warns Kevin Warsh's hawkish history makes him an odd fit for a president wanting lower rates.
Fed Pick Affects Powell And Board Power
- The White House should consider how a new Fed pick would affect Jerome Powell's decision to remain as governor.
- Building a Republican-friendly Board could accelerate deregulatory and lending-focused policy moves.