RenMac Off-Script: Keeping Dry Powder

Renmac discuss why our elevated yield impact model and seasonality favors keeping some dry powder, but not the same type found in the White House this week. How cocaine-gate is overshadowing the “Bidenomics” push? Why the latest payroll print shows no signs of recession and is unlikely to prevent the Fed from hiking two more times this year? All in today’s episode.