Merryn Talks Money
Trump, Trade Wars and the Basis Trade
Apr 10, 2025
Join John Stepek, author of the Money Distilled newsletter and Bloomberg senior reporter, as he dives into the current landscape of trade wars and economic uncertainties. He discusses how Donald Trump's strategies might be reshaping American exceptionalism. The conversation outlines the complexities of U.S.-China trade relations and the implications of recent tariffs on global markets. Stepek also sheds light on the intricacies of the bond market and the potential risks posed by persistently low interest rates.
20:55
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Quick takeaways
- Recent tariff fluctuations and U.S.-China trade relations have significantly contributed to market volatility, affecting long-term investment strategies.
- The changing global trade landscape indicates a move away from U.S. exceptionalism, highlighting the need for diversified investment approaches.
Deep dives
Market Volatility and Tariff Impact
Market volatility has been significant recently, primarily driven by the fluctuations in tariffs and U.S.-China trade relations. Following an announcement of a 90-day pause on most tariffs, U.S. markets reacted positively, with major indices like the Nasdaq and S&P 500 seeing substantial increases. Despite these gains, it's noted that year-to-date performance remains negative, highlighting the complexity of the current market landscape. For long-term investors, the key takeaway is that maintaining a focus on their investment strategy can help mitigate anxiety during such volatile periods.
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