Bloomberg Surveillance Trump Tariffs and the Impact on Markets
Jun 3, 2025
Chris Harvey, Chief US Equity Strategist at Wells Fargo, shares insights on how Trump's tariffs are impacting market trends and corporate strategies. Tom Porcelli, Chief US Economist at PGIM Fixed Income, analyzes the labor market and inflation as economic activity slows. The discussion touches on the potential recession, the effects of tariffs on various sectors, and the importance of navigating market uncertainty. With a cautious optimism surrounding U.S.-China relations, they explore how these elements shape the economic landscape.
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Geopolitics Super Cycle Risk
- Geopolitical risks have tripled over the last 15 years, accelerating rapidly in a super cycle.
- Ineffective diplomacy and institutions increase the risk of geopolitical crises escalating.
Market Bottom Amid Tariff Uncertainty
- Stock market uncertainty has peaked, indicating a market bottom.
- Progress on trade tariffs with Asia signals potential market improvement.
Portfolio Anchoring Strategy
- Anchor portfolios with low-volatility or defensive assets like utilities.
- Take good risk awards over 3-5 years while mitigating ongoing uncertainty.
