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“Wall Street knows Trump must end the war”

David Llewellyn-Smith
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Michael Hartnett at BofA describes the Trump TACO.

On Love: proper collapse in Trump approval on inflation (Chart 6 – now 30%…37% economic approval, 41% job approval at/near lows); note Biden inflation approval low 28% in Jun’22 coincided with CPI up 9.1%, gasoline prices $5/gallon (3.3% & $4/gallon today…tells you there’s structural frustration on Main St re cost of running business, cost of living; in contrast, Wall St approval of (asset price) inflation at record highs…Wall St knows Trump must end Iran war to reduce gas prices, to improve affordability, to boost approval of consumer/small business voters to “win” midterms (i.e. not lose Senate), and likely won’t require second reminder to do so.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.