Bloomberg Surveillance
Bloomberg Surveillance TV: January 14, 2025
Jan 14, 2025
Emily Roland, Co-Chief Investment Strategist at John Hancock Investment Management, shares her insights on the market selloff as 2025 kicks off, discussing the anticipated choppiness ahead. Armin Papperger, Chairman at Rheinmetall AG, delves into the current state of the Ukraine conflict and its implications for defense strategies in Europe. Sonia Meskin, Economist at UBS, analyzes recent PPI data and its significance for inflation expectations. Together, they explore the complex interplay of global economics and geopolitical tensions shaping today's investment landscape.
20:56
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Quick takeaways
- The strengthening of the US dollar impacts large-cap stocks reliant on foreign revenues, indicating heightened vulnerability to currency fluctuations.
- Concerns over elevated bond yields and inflation prompt a shift towards value stocks and defensive strategies, emphasizing the need for portfolio recalibration.
Deep dives
Impact of the Strengthening US Dollar
The significant strengthening of the US dollar is identified as a key factor affecting equity markets, particularly large-cap stocks that rely on international revenues. Approximately 40% of revenues for these firms come from abroad, making them vulnerable to foreign exchange fluctuations. A recent modest pullback in the dollar has been seen as a potential boon for risk assets as it alleviates some pressure on these stocks. This highlights the interconnectedness of currency markets and equities, emphasizing the need for investors to monitor currency trends closely.
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