David Woo - Bank of America Merrill Lynch


Last quote by David Woo

Obviously, the whole Mueller thing certainly that makes people think that tax reform is less likely to happen. I'm still very, very optimistic on tax reform. I think there's a 90 percent chance tax reform gets done this year. The only way tax reform gets done is the hard way, and the hard way would involve the president threatening to shut down the government and basically defaulting to get his party to vote on tax reform in September.feedback
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Jul 21 2017
David Woo has been quoted 28 times. The one recent article where David Woo has been quoted is Shrinking dollar will be 'toast' without tax reform-Bank of America strategist. Most recently, David Woo was quoted as having said, “My view is until tax reform is resolved, one way or the other, the Fed is going to be sitting on its hands.”.
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David Woo quotes

Feb 02 2017

They're going to try to move in line with international taxation systems, like VAT. The U.S. will be doing what everybody else would be doing, and then the border adjusted tax is going to raise $1 trillion. It's not something you could basically just throw away. It's a lynch pin of the entire corporate tax reform. It's a difficult contradiction to reconcile. I'm optimistic the border adjustment tax will go through but not in this current state.feedback

Jan 31 2017

People are pessimistic about Trump. That's what this is all about. You have to be willing to look through the noise. There's a lot of noise.feedback

Jan 31 2017

I don't think it's hawkish, I think it's going to be positive. They have to acknowledge the fact that the economy is doing well and better than it was in December. You'll have to see an upgrade of the economy in their statement.feedback

Jan 17 2017

His trade policy, which is about bringing jobs back to the U.S., by definition requires a weak dollar. There lies the biggest contradiction of this entire policy strategy. Do you want a weak dollar or do you want a strong dollar?feedback

Jan 17 2017 - Twitter

I'm encouraging everybody who takes trading currency seriously to get themselves a Twitter account.feedback

Jan 17 2017 - Inequality

He said we have to address the consequences that globalization has [brought with regard to] inequality. That shows he understands the political constraints Trump is facing.feedback

Jan 17 2017

There's no question that the Trump administration would not want a strong dollar. A strong dollar does nothing good for whatever Trump is basically trying to do. Yes, the U.S. fundamental story is bullish for the U.S. dollar, but the problem here is they actually don't want a strong dollar. I think it's going to go up. However, it's going be a much more volatile climb.feedback

Aug 31 2016 - Japan

I think in September, in general, you're going to see volatility going up because not only the Fed could hike, but I think there's a chance the ECB and Bank of Japan could disappoint.feedback

Aug 29 2016

I don't believe that Trump is necessarily bad for business. The only thing we could say about a Trump victory is a lot more fiscal stimulus. If half the stuff he's talking about is true, the economy would take off. This would be the first time you get a fiscal stimulus when you're not in the middle of a recession. If we get a Trump clean sweep, this would be very bullish for the U.S. dollar but also very bearish for Treasurys.feedback

Aug 29 2016

If you think about the most crowded trades in the world right now, the most crowded trades are risk parity trades. The biggest positions are risk parity positions and it's done on a very leveraged basis.feedback

Aug 29 2016 - Democratic Party

You have a Democrat president, and a Republican controlled Congress which means you have gridlock in Washington. The market is pricing in this gridlock, meaning it's going to be that much of the burden of supporting the economy falls on the Fed.feedback

Aug 29 2016

Since July 5, the S&P has gone up about 4.5 percent. We're now at the midpoint mark of this 90 day rule. The last time the stock market was up this much at the halfway mark was when Ronald Reagan went on to defeat Walter Mondale in a landslide victory. The market is not only pricing a Hillary victory. The market is pricing in a landslide Hillary victory.feedback

Aug 16 2016

If the minutes are more likely to validate what Dudley said today, which means anything is possible … going into Jackson Hole, the market will have to be less complacent.feedback

Aug 16 2016

It does create the opportunity for the Fed to do what I think would be an opportunistic hike in September. I think the market is still underpricing the probability of an opportunistic hike.feedback

Aug 16 2016

I suspect the minutes are going to read more like Dudley than Williams. I think they're going to emphasize the data dependence. They could mention the easing of financial conditions.feedback

Aug 16 2016 - Japan

We've had good data out of the U.S. and yet long-term rates can't go up. The market is therefore assuming the U.S. will not hike rates any time soon and the U.S. will continue to import easy policy from Europe and Japan. The market is very complacent on that point of view.feedback

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