Bloomberg Daybreak: Asia Edition Equities Fall in Risk Off Start, New Zealand's 'Golden Visa' Surge
23 snips
Jun 2, 2025 
Carol Schleif, Chief Market Strategist at BMO Private Wealth, sheds light on the tumultuous state of tariffs, linking President Trump's potential tariff increases on steel and aluminum to broader market reactions. Meanwhile, Stuart Nash, Former Minister of Economic Development in New Zealand, delves into the surge of interest in the country's 'golden visa' programs. With looser rules designed to attract wealthy investors, Nash discusses the vetting process and its implications for New Zealand’s economy and property market, raising questions about community impact and investment integrity.
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Tariffs Impact Consumer Confidence
- Tariff policy affects consumer sentiment but spending remains robust due to job security.
- Market reacts quickly to tariff news, but economic fundamentals show resilience despite fragility.
Margin Pressure and Mitigation
- Companies face margin pressure from tariffs but start from historically high margins.
- Firms try cost-saving strategies like AI deployment to absorb increased costs without full price hikes.
Sentiment vs Hard Data Disparity
- Soft sentiment data loosely correlates with hard economic data.
- Recent tariff thaw led to a consumer confidence snapback, but ongoing tariff flip-flops frustrate investors and consumers.