Bloomberg Daybreak: Asia Edition S&P 500 Hits Record Ahead of PCE Data
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Aug 29, 2025 Alonso Munoz, Chief Investment Officer at Hamilton Capital Partners, discusses the impressive 3.3% growth of the U.S. economy and its influence on Fed policy. He highlights upcoming PCE data and its implications for inflation expectations. Raj Singh, Multi-Asset Portfolio Manager at Principal Asset Management, shares insights on global market reactions, including Japan and South Korea's performances. They dive into the potential impacts of U.S. inflation data on worldwide markets and the ongoing complexities facing investors amidst mixed economic signals.
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Stronger GDP Raises PCE Stakes
- The US economy grew at a 3.3% annualized rate in Q2, driven by business investment and trade.
- That strength soothes recession fears but raises concern ahead of a 2.9% core PCE print for July.
Waller Signals Modest September Cut
- Fed Governor Chris Waller supports a 25bp cut in September and says a 50bp cut isn't necessary now.
- His stance signals markets expect easing but larger moves hinge on weak incoming data.
Watch Key Data Before Trading Fed Cuts
- Watch the July PCE and the payrolls report closely before positioning for Fed moves in September.
- Expect markets to treat a weak payrolls print as justification for a larger than 25bp cut.