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⚡ Markets: This unfunded fiscal stimulus proposal of over $1 trillion would be highly inflationary if enacted, likely leading to higher bond yields and a weaker dollar. Markets will price its low probability, but it sets a new baseline for fiscal populism.USDUS 10Y YieldSPX
Speaking at the Republican National Convention, President Trump urged voters to support GOP candidates in the November midterms by promising a "$5,000 Trump dividend" to all adult citizens if the party retains control of Congress. He also predicted the war with Iran would end immediately after the elections, which his own advisers have reportedly warned may not be the case.
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