Bloomberg Daybreak: Asia Edition Daybreak Weekend: Nvidia Earnings, G20 Summit, U.S-China Relations
Feb 21, 2025
Jenny Marsh, Team leader for Greater China EcoGov at Bloomberg, dives into the complex tapestry of U.S.-China relations. She discusses the impact of recent tariff increases and how a breakthrough in AI could influence Chinese stock markets. Marsh emphasizes the significance of global connectivity in diplomatic ties and highlights the upcoming G20 summit's relevance without U.S. participation. Lastly, she explores the delicate balance of trade dynamics and potential future tensions related to Taiwan and international economic strategy.
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Stubborn Inflation
- High inflation persists despite uncertainty around tariffs and job losses.
- Discretionary services and energy costs drive the stubbornly high inflation.
PCE and Seasonality
- January's PCE report may show some residual seasonality, affecting the inflation measure.
- Persistent price pressures are seen in shelter and auto insurance, taking time to reflect past hikes.
Energy and Inflation
- Exceptionally cold weather in January drove high energy demand, impacting headline inflation.
- This increased energy cost affects consumers, causing them to reduce spending in other areas.