215: Navigating Market Volatility and Tariff Policy: Positioning Portfolios Amid Uncertainty [April 8th]

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Apr 9, 2025

Gargi Pal Chaudhuri, Chief Investment and Portfolio Strategist for the Americas at BlackRock, teams up with Glenn Purves, Global Head of Macro at the BlackRock Investment Institute, to dissect the recent tariff announcements from President Trump. They explore how these tariffs trigger market volatility and affect global supply chains. The duo discusses strategies for investors, focusing on diversification and defensive investments. They also delve into the resilience of gold and the complexities of the bond market, revealing how to navigate uncertain economic landscapes.

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INSIGHT

Market Volatility from Tariff Uncertainty

Recent tariff announcements by President Trump have caused market volatility.
This volatility is driven by uncertainty around the tariffs' impact on supply chains, inflation, and economic growth.

INSIGHT

Three Components of Tariff Strategy

The US administration's tariff strategy has three components: strategic sectors, universal tariffs, and trade surplus surcharges.
The third component, targeting countries with trade surpluses, is uncertain and has spooked markets.

INSIGHT

Risk of Stagflation and Recession

If the tariffs hold, stagflation (lower growth, higher inflation) seems unavoidable.
The risk of US and global recession is much higher.

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The recent tariff announcements by President Trump on April 2nd have sent shockwaves through the global markets, triggering significant market volatility, driven by the uncertainty of these tariffs and their impact on global supply chains, inflation, and economic growth. As markets are grappling with various potential scenarios, how should investors be positioning their portfolios to navigate continued uncertainty?

Glenn Purves, Global Head of Macro at the BlackRock Investment Institute and Gargi Pal Chaudhuri, Chief Investment and Portfolio Strategist for the Americas at BlackRock. Glenn and Gargi will help us navigate the current themes driving market dynamics, how these shifts impact supply chains and prices, and how investors can manage volatility and uncertainty in these turbulent times.

This episode was recorded April 8th and published April 9th prior to the announcement of the 90-day pause on tariffs.

Check out the full series covering tariffs and market volatility on The Bid: https://open.spotify.com/playlist/3iiZbbNz3eI08zXGZ4n3LI?si=TNiOrYRoSxyXVsbwsBs68Q

Key moments:

01:52 Overview of Recent Tariff Announcements

04:56 Market Reactions and Volatility

08:42 Investment Strategies Amid Uncertainty

10:26 Investor Sentiment and Portfolio Positioning

14:51 Key Indicators and Future Outlook

19:32 Conclusion and Final Thoughts

This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to the names of each company mentioned in this communication is merely for explaining the investment strategy and should not be construed as investment advice or investment recommendation of those companies. In the UK and Non-European Economic Area countries, this is authorised and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorised and regulated by the Netherlands Authority for the Financial Markets. For full disclosures go to Blackrock.com/corporate/compliance/bid-disclosures

tariff, tariffs, global markets, inflation, economy, economic growth, blackrock, the bid, finance, finserv, trump, market volatility

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