Bloomberg Surveillance Markets Pricing in Early Trump Policy
Jan 21, 2025
Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, shares her expertise on current market trends and investment strategies. She delves into the impact of anticipated interest rate hikes by the Federal Reserve on emerging markets. The discussion also covers how recent political changes are reshaping investor sentiment, from passive to active management. Additionally, Lori highlights the evolving dynamics in stock classifications and the importance of sector rotations in navigating today's investment landscape.
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Dollar Strength Factors
- The current environment favors a strong dollar due to multiple factors.
- These factors include growth and rate differentials, not just tariffs.
Dollar Bear Case
- Potential downsides for the dollar exist but are unlikely.
- These include greater European fiscal cohesion or increased Chinese stimulus.
CNY Outlook
- The Chinese Yuan (CNY) is expected to weaken against the dollar.
- This weakness is driven by fundamental factors and potential tariffs.