Bloomberg Talks Apollo Global Management President Jim Zelter Talks Retail
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May 15, 2025 Jim Zelter, President of Apollo Global Management, shares his insights on the retail market's response to Trump's trade policies. He discusses how retail executives are stepping into political conversations to tackle supply chain issues and tariffs. The conversation sheds light on the unequal recovery paths across various economic sectors and the resulting market volatility. Zelter also explores the resilience of private credit, highlighting investment opportunities in technology despite ongoing challenges, providing optimism for investors.
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US Trade Strategy Pivot
- The US administration has pivoted its trade strategy after retail leaders highlighted real-world challenges.
- There is a global effort to bring manufacturing and dealmaking back to the US from China and India.
Different Shapes of Recovery
- Consumer confidence remains weak but consumer activity is still strong, indicating a potential V-shaped recovery.
- Corporates are likely experiencing a slower U-shaped recovery, while global recovery seems more L-shaped.
Robust Private Capital Markets
- Despite headlines of market shutdowns, private capital markets are very active with significant deals and financings.
- The market's current depth is supported by private equity and credit activity, reflecting health beneath public volatility.