UBS On-Air: Market Moves Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 30)
May 21, 2025
Burkhard Varnholt, an economist and investment strategist, shares valuable insights on global markets and investment opportunities. He discusses the upcoming tariff announcements and their potential impact on trade dynamics and commodity prices. Varnholt highlights resilient sectors like AI and infrastructure amid market volatility. He also delves into how U.S. geopolitical strategies affect oil prices, particularly regarding situations in Iran and Venezuela. Listeners gain a comprehensive view of market positioning after a correction.
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Logistics Shift Before Tariffs
- A global logistics CEO noticed a surge in air freight akin to pandemic supply chain disruptions.
- Companies ship goods by air to avoid upcoming tariffs, even for heavy items like Harley-Davidson bikes.
Copper Prices Signal Uncertainty
- Copper prices surged 30% this year, often signaling economic recovery.
- Yet it is questioned if this time the spike truly predicts strong growth, especially in China.
Tariff Impact Often Exaggerated
- Tariffs create market noise and exaggerations about their economic impact.
- Funding government through tariffs alone would require absurdly high rates, making such ideas nonsensical.