Trump’s Economic Agenda | Andreas Steno ft Mikkel Rosenvold | Macro Mondays

Jun 30, 2025

Join a lively discussion on the market impacts of Trump's ambitious economic policies. Unpack the complexities of trade negotiations and the consequences of a weak dollar on various sectors. Dive into the political maneuvering behind a major economic stimulus bill and its implications for future growth. Examine how recent shifts in Federal Reserve policies are reshaping the investment climate and explore the potential effects of a weakened dollar on global trade dynamics. Get ready for insightful analysis and a dash of humor throughout!

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INSIGHT

Trump Blocks Canada's Tax on Big Tech

Trump's threat to Canada over the digital services tax pressured Canada to rescind it, benefiting US big tech.
This move sends a clear signal to other trade partners to avoid similar digital taxation paths.

INSIGHT

Big Beautiful Bill Stimulates Now

The Big Beautiful Bill is front-loaded with stimulus but back-loaded with spending cuts starting 2027.
Markets will likely see it as highly stimulative, fueling near-term growth with deferred fiscal tightening unlikely to be enforced.

INSIGHT

Fed Eases Credit Via Leverage Changes

The Fed's proposal to lower the supplementary leverage ratio frees up hundreds of billions in dollar liquidity.
This easing of credit conditions acts like private "pink QE," increasing market liquidity outside the Fed's direct intervention.

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Andreas Steno, founder and CEO of Steno Research, is back with his co-host Mikkel Rosenvold, the firm’s partner and head of geopolitics, to dissect the market impacts of everything from the latest inflation data to Trump's Big Beautiful Bill and new U.S trade deals. 📣 *This episode is brought to you by Bitwise Asset Management*. Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the necessary access. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and over 100 people in the US and Europe to help manage everything from ETFs to private alpha strategies to SMAs for large investors. 👉 *Check out Bitwise at https://bitwiseinvestments.com and let them know that Real Vision mentioned them*. Carefully consider the extreme risks associated with crypto before investing ➡️ VeChain has been delivering real-world blockchain utility since 2015 – long before the hype. From powering supply chains and carbon tracking to food safety and enterprise tools, its protocol is proven, scalable, and trusted by governments and global brands. ➡️ Now, it enters a bold new phase: The VeChain Renaissance. With modular upgrades, performance boosts and the introduction of VeBetterDAO, VeChain is rebuilding to embrace open participation, while keeping the enterprise-grade reliability it’s known for. ➡️ The future is here and it’s evolving with purpose. ➡️ The VeChain Renaissance has landed. ➡️ Discover more https://www.realvision.com/vechain #VeChain #Blockchain #VeBetterDAO #Web3 #Sustainability

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