Bloomberg Daybreak: Asia Edition Treasuries Hold Gains, Bitcoin Hits New All-Time High
May 23, 2025
Eric Sterner, Chief Investment Officer at Apollon Wealth Management, discusses the recent stability in Treasuries and its impact on the Asian markets, suggesting potential investment opportunities amidst volatility. Peter Chung, Head of Research at Presto Research, dives into Bitcoin's historic rise past $111,000, linking it to increased institutional interest and support from the Trump administration. The duo also explores the evolving perception of cryptocurrencies, noting the growing necessity for regulatory improvements in the face of security concerns.
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Treasury Market Volatility Explained
- Treasury market volatility reflects differing views on U.S. fiscal policy and tariffs impacts.
- Rates may stay high but under 5%, avoiding severe equity market pullbacks.
Tariff Inflation Likely Transitory
- Expect tariffs to cause short-term inflation but settle if around 10%.
- Inflation should remain controlled without additional fiscal stimulus.
Trade Uncertainty Holding Back Economy
- Trade uncertainty causes companies and consumers to hold back spending and hiring.
- Settling trade talks would unleash economic tailwinds from tax cuts and deregulation.