Bloomberg Businessweek The 28th Annual Milken Institute Global Conference: Day 3
5 snips
May 7, 2025 
Join Jason Thomas, who leads Global Research at Carlyle, Dina Dilorenzo, co-president at Guggenheim Partners, and Christian Stracke from PIMCO as they dive into pressing financial topics. They explore the impact of tariffs on the auto industry and tech stocks amidst market volatility. Discussions also highlight investment strategies in private credit, risk evaluation, and how banks are evolving asset-based finance. The trio sheds light on economic uncertainties and the Federal Reserve's influence on current markets.
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Companies Avoid Overreacting to Tariffs
- Companies are currently not reacting aggressively to recent tariffs to avoid burning bridges with suppliers and customers.
- This cautious behavior is supported by inventory accumulation, delaying potential negative economic impacts.
Trade Deficits Linked to Outsourcing
- To reduce the U.S. trade deficit, consumers must buy fewer U.S.-branded goods as most manufacturing is outsourced.
- The trade deficit in sectors like apparel and semiconductors is largely due to U.S. design paired with foreign production.
Prioritize Quality in Private Credit
- Prioritize research-driven, quality-focused private credit investments over quantity.
- Educate advisors on differences between interval funds, BDCs, and alternatives to align with client goals.