Nancy Tengler, CEO & CIO at Laffer Tengler Investments, shares her insights on the chaotic state of economic policy from the White House, dubbing it 'amateur hour.' She discusses the implications of President Trump's three-month tariff pause on various countries, excluding China, and warns that more coherent policy rollout is needed for market stability. Tengler also reflects on the challenges ahead for investors in the context of current market volatility, emphasizing the risks of buying the dip amid shifting economic conditions.
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insights INSIGHT
Tariff Risks and Global Trade
Trump's tariffs may yield short-term economic gains, as Europe won't immediately retaliate.
However, this approach carries risks, potentially strengthening Europe and other global regions.
volunteer_activism ADVICE
CPI and Potential Rate Cuts
The current CPI report offers a snapshot of inflation from the past month.
It could provide Powell with justification to lower rates, viewing transitory inflation as such.
insights INSIGHT
Risk Profile and Equity Investment
It's not the time to take excessive risks, but it was an opportune time to gradually increase equities.
Buying equities after a 20% sell-off improves the odds in your favor.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 10th, 2025 Featuring: 1) Patrick Armstrong, CIO at Plurimi Wealth, Tiffany Wilding, Economist: North America at PIMCO, and Greg Boutle, Head of US Equity & Derivative Strategy at BNP Paribas, react to CPI and discuss the outlook for bonds and equities following President Trump's tariff reversal. Strategists have warned investors against buying the dip in equities due to the risks ahead, with some advising caution amid extreme market volatility. 2) Ian Lyngen, Head of US Rates at BMO Capital Markets, joins to discuss signals from the bond market before and after President Trump's tariff reversal and the outlook for US rates amid the current US economic backdrop. Trump's tariff reversal decision was driven in part by the chaos in financial markets, as well as outreach from other countries making concessions, and he is now considering exemptions for companies facing severe consequences from tariffs. 3) Nancy Tengler, CEO & CIO at Laffer Tengler Investments, talks "amateur hour" at The White House and why markets need a better policy rollout to sustain a rally after Trump's tariff pause. After a frenetic meeting with economic aides, President Trump implemented a three-month pause on expanded tariffs on dozens of countries, excluding China, and raised tariffs on the world's second-largest economy. It comes after the president promised that his policies would "never" change.s 4) Jordan Rochester, Head: FICC Macro Strategy at Mizuho, on the bond market signals to President Trump and market risks from here. The dollar weakened to begin Thursday as concern reemerges about potential longer-term damage to the global economy from conflict over trade. 5) Kona Haque, Head of Commodities Research at ED&F Man, on the commodity turnaround on Trump's tariff reversal and how softs will fare as trade deals are renegotiate. It comes as the flow of oil from the world’s biggest producer to its largest importer is set to thin to virtually zero as a trade war between the two powerhouse economies escalates.
Bloomberg Surveillance