Bloomberg Surveillance Markets Price in Trump and Netflix's Record Earnings
Jan 22, 2025
Torsten Slok, Chief Economist at Apollo, shares insights on the global macro outlook amid a potential second Trump administration. He discusses China's economic challenges, including a declining workforce and housing market, and their implications for global trade. Slok also anticipates the Fed meeting, revealing market sentiments and the uncertainties that lie ahead. He touches on the dynamic stock market landscape, highlighting Netflix's impressive growth, and the shifting priorities of millennial investors in a volatile market.
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Demographic Differences
- China's working-age population is declining, creating a Japanese-style headwind for growth.
- America's working-age population is growing, giving it an advantage.
China's Impact
- China's weakening economy is impacting the global economy, particularly commodity prices.
- Germany, a major exporter to China, is also significantly affected.
Trump's Economic Policies
- Trump's policies, including tariffs and immigration restrictions, have inflationary implications.
- These policies may complicate the Fed's efforts to manage inflation.