Bloomberg Surveillance Stocks Pause Amid Valuation Concerns
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Oct 10, 2025 Katy Kaminski, Chief Research Strategist at AlphaSimplex, specializes in trend-following strategies and discusses strong equity signals amid AI excitement. She shares insights on gold's rise linked to a weaker dollar and advocates for diversified, multi-asset portfolios. Joining her, Thierry Wizman, Director of Global Currencies & Interest Rate Strategy at Macquarie, analyzes the dollar's recent resilience against global uncertainties and the implications for markets, emphasizing the effects of currency volatility on multinational profits.
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Dollar Strength Tied To Global Uncertainty
- Global political uncertainty outside the U.S. has re‑energized the dollar despite prior weakness this year.
- Traders shifted as Europe and Japan added policy risk, making a weak‑dollar consensus fragile.
Weak Yen Benefits Japanese Multinationals
- Yen weakness boosts margins for Japanese exporters and lifts Japanese equities.
- Recent yen moves reflect investor bets on central bank action, not wholesale economic decline.
Fed Won't Freeze Without Official Data
- Don't assume a government shutdown will blind the Fed to economic trends.
- The Fed uses third‑party data and surveys, so policy decisions remain data‑driven.