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Mark Lennihan / AP

Bearish talk on the Trump agenda from Barron's, which provides Axios AM readers with free links to three pieces behind the paywall:

  • "The controversies swirling around the administration could thwart much of the president's agenda, per Randall Forsyth's "Up & Down Wall Street" column: "A flatter [Treasury market] yield curve is a classic sign of reduced market expectations of rising interest rates, inflation, and growth. That is how politics have affected the outlook for policy, the economy, and the markets."
  • "Streetwise" column by Kopin Tan: "The same people who urged us to buy stocks in November because Trump will bestow on us big tax cuts and fiscal stimulus now say stocks can rally without Trump. Yes, global growth is healthy, but the rate of change in growth is turning lower in economies from the U.S. to China. ... Things are fine now, but someday the future will arrive."
  • "Buffett's Berkshire Could Post Double-Digit Gains: Berkshire Hathaway will excel, Buffett or no Buffett."

Go deeper

Trump bump: NYT and WaPo digital subscriptions tripled since 2016

Data: Axios reporting and public filings; Chart: Axios Visuals

The New York Times and The Washington Post have very different strategies for building the subscription news company of the future.

The big picture: Sources tell Axios that the Post is nearing 3 million digital subscribers, a 50% year-over-year growth in subscriptions and more than 3x the number of digital-only subscribers it had in 2016. The New York Times now has more than 6 million digital-only subscribers, nearly 3x its number from 2016.

Ben Geman, author of Generate
38 mins ago - Energy & Environment

Biden's emerging climate orbit

Photo illustration: Aïda Amer/Axios. Photo: Win McNamee/Getty Images

As of Tuesday morning, we know a lot more about President-elect Joe Biden climate personnel orbit, even as picks for agencies like EPA and DOE are outstanding, so here are a few early conclusions.

Why it matters: They're the highest-level names yet announced who will have a role in what Biden is promising will be a far-reaching climate and energy agenda.

Janet Yellen is back

Photo illustration: Sarah Grillo/Axios. Photo: Hannelore Foerster/Getty Images

A face familiar to Wall Street is back as a central player that this time will need to steer the country out of a deep economic crisis.

Driving the news: President-elect Joe Biden is preparing to nominate former Fed chair Janet Yellen to be Treasury secretary.