• 34ºc, Sunny

Deutsche Bank: Bescent and Trump's weekend remarks may have signaled a change in markets

Jim Reid, an analyst at Deutsche Bank, said that despite the relatively quiet weekend, we did hear from Mr. Bessant and Mr. Trump, who seemed to be telling us that they were ready for some pain in repositioning the economy. "We may see this economy that we inherited start to roll a little bit," Mr. Bessant said. "When we move from public spending to private spending, there will be a natural adjustment. The market and the economy are already hooked. We are already addicted to government spending and it will be a withdrawal period." Mr. Trump, meanwhile, said, "There will be a transition period because what we are doing is very big. We are bringing wealth back to the United States. It is a big deal. What I am going to do is build a strong country. You can't really observe what's going on in the stock market. "If taken at face value, these quotes suggest that they are more painful than most people thought a few weeks ago.