Bloomberg Surveillance Bloomberg Surveillance TV: March 18, 2025
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Mar 18, 2025 Peter Tchir, Head of Macro Strategy at Academy Securities, shares expert insights on the precarious state of market stability amid looming recession risks. He delves into the complex dynamics of global trade tensions and their potential impact on economic growth. Pierre Ferragu, Head of Global Technology at New Street Research, discusses the uncertain outlook for Big Tech and the competitive rivalry with China, particularly in AI and chip technology. Together, they explore how these factors shape investor sentiment and market strategies.
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Capital Flows vs. Trade Benefits
- The U.S. is trading capital flows for trade benefits by pursuing tariffs.
- This has led to capital outflows and lower valuations in other markets.
Tariff Strategy Ineffectiveness
- The current tariff strategy lacks a long-term plan and has created a mess.
- China's excess capacity and low pricing mitigate the impact of U.S. tariffs.
Economic Risks of Tariffs
- Uncertainty surrounding tariffs is hindering investment and hiring.
- Spending cuts and job losses could lead to a recession.