Research @ Citi Episode 32: Inside Wealth with Kate Moore
Apr 30, 2025
Kate Moore, the Chief Investment Officer at Citi Wealth, shares her expertise on navigating today's tumultuous market. She discusses the complexities of tariffs affecting industries like pharmaceuticals and autos, and the shift of investments from the U.S. to Europe. The conversation delves into innovative strategies in wealth management, highlighting a move beyond traditional portfolio models. With insights on economic uncertainties and the rise of alternative assets, Moore emphasizes the importance of adaptability in optimizing client portfolios.
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Market Stress Broadens Surprisingly
- Signs of stress in markets are broadening despite volatility indices like the VIX being lower than their peak.
- Stocks and bonds are both down while yields rise and the dollar weakens, challenging traditional diversification strategies.
Policy Rescue Not Imminent
- Don't expect policy interventions to rescue markets until the economic environment worsens significantly.
- Policymakers will remain data-dependent and resist acting on forecasts or fears alone.
Tariffs Hit Pharma, Semis Hard
- Tariff impacts are complex; some countries have more to offer in negotiations than others.
- Pharma and semiconductor tariffs are critical due to their large consumer implications.