Market Mover Bond, è la fine dell’eccezionalismo Usa?
Apr 11, 2025
The podcast dives into the recent spike in U.S. Treasury bond volatility, reflecting shifting perceptions of American influence. It distinguishes between trade wars and genuine economic crises, exploring inflation and public debt's impact on financial stability. Discussion pivots to how American exceptionalism affects trust in investments, specifically highlighting the resilience of high-yield bonds compared to stocks. Finally, the hosts navigate the complexities of global market volatility, focusing on credit risks and the dynamics of the Dollar and Euro zones.
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Trade Wars vs. Economic Crises
- Trade wars differ greatly from economic crises, as they cut deflationary aspects.
- Tariffs, despite hindering growth, increase inflationary pressures, unlike typical crises.
American Exceptionalism and Volatility
- The issue isn't credibility but market volatility caused by uncertainty.
- Difficulty in predicting future business dealings hinders investment and impacts American exceptionalism.
High-Yield Bond Resilience
- High-yield bonds have shown resilience against market volatility compared to equities.
- This is because investors interpret risks differently in high-yield bonds versus equities.