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Member News
Member News
08
May
By Marc Chandler, Chief Market Strategist, Bannockburn Capital Markets
If trade imbalances truly drive protectionist backlash, as many claim, we should have witnessed comparable anti-trade sentiment during the 1980s when America's deficit with Japan reached historic proportions. Yet history reveals a critical distinction: Japan was offered—and wisely seized—an economic escape valve that today's geopolitical climate threatens to deny China. This asymmetry not only betrays a fundamental misunderstanding of how global trade evolved but risks triggering an unprecedented economic disruption.
Japan's solution...
07
May
By Joe Brusuelas, Chief Economist, RSM
Key takeaways
The U.S. attempt to rebalance the global economy has resulted in the flight of capital out of the country.
The primary consequence of this effort has been a declining dollar and rising Treasury yields.
Any policy that devalues the dollar or seeks to end its status as the reserve currency harms American interests.
The United States’ attempt to rebalance the global economy to better serve its interests has resulted in the flight of...
07
May
By William R. Rhodes and Stuart P.M. Mackintosh
It is delusional to think that the Trump administration will devise a viable, let alone sensible, trade policy before its 90-day pause on “reciprocal” tariffs ends. Before prices spike and the economy starts shrinking, legislators and business leaders must recognize that there is no strategy and respond accordingly.
WASHINGTON, DC – In November 2024, the consensus among economists was clear. The United States was powering ahead of all other advanced economies, a trend reflected in...
07
May
The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have deepened their long-standing partnership by signing a Mutual Reliance Agreement on environmental and social aspects. The agreement will make it easier to finance projects together and get them off the ground more quickly in common countries of operation. It will also reduce red tape for our our clients.
The agreement, signed in April in Washington on the sidelines of the Spring Meetings of the World...
07
May
The new edition of the EU Tax Alert is available. With this publication we would like to keep you informed about the latest developments on EU tax law. We have summarized the highlights of this edition below.
EU Council adopts DAC9 to facilitate the filing and exchange of Pillar Two-related information in the EU
On 14 April 2025, the Economic and Financial Affairs Council (ECOFIN) formally adopted the proposed amendment to the Directive on Administrative Cooperation to facilitate the filing and...
06
May
By Thomas Taylor and David Wegman, Trepp
On April 2, 2025, President Trump launched the opening moves in what has become the most encompassing trade war seen in the modern era. Since then, securities markets have reacted to breaking news on this topic with extreme swings. Taken individually or collectively, how will the economic shocks from the developing trade war impact commercial real estate (CRE) and market participants?
Market Shocks & CRE
One of the most immediate effects of policy uncertainty on capital...
06
May
NAL’s SHOUT product line will integrate Iridium’s Enhanced Short Burst Data (ESBD) satellite service to enhance communications security and performance.
MANASSAS, Va., May 5, 2025 — NAL Research, an industry leader in delivering trusted and resilient wireless and APNT solutions, is announcing the integration of Enhanced Short Burst Data (ESBD), leveraging the next generation version of Iridium’s Short Burst Data® (SBD®) service, into its industry-defining SHOUT trackers. The incorporation of this advanced two-way data transmission solution will bolster secure communications for U.S. Department of Defense, federal,...
05
May
April 29, 2025, marked the one hundredth day of President Trump’s second term of office. Set forth below are the key labor and employment policy changes that have occurred thus far.
Diversity, Equity, and Inclusion
Through various executive orders, the Trump administration has upended the diversity, equity, and inclusion (DEI) landscape, both within the federal government and for private-sector employers. These directives are still subject to multiple legal challenges and expected further action from U.S. Attorney General Pam Bondi. As noted in further detail...
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