Bloomberg Daybreak: Asia Edition Asian Stocks Slip After Sluggish US Jobs Data, China Chip IPO
Dec 17, 2025
Christopher Zook, Chairman and CIO of CAZ Investments, shares insights on the softening economy and the implications of recent US jobs data on interest rates. He discusses sticky inflation and market scenarios for 2026, highlighting rising electricity demands from AI. Daniel Lam, Head of Equity Strategy at Standard Chartered Wealth Solutions, tackles investor concerns around AI stocks and urges strategic investments in the sector. He also highlights India's growth potential and the themes of tech self-sufficiency in China.
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Soft Economy Masked By Noisy Jobs Data
- Christopher Zook sees the US economy as softer than headline jobs data suggests due to noisy government payroll shifts and hollowing of middle-skilled jobs.
- He warns AI is contributing to middle-skill job losses and sticky inflation that may keep the Fed constrained.
Inflation Likely To Stay Sticky
- Zook expects persistent, sticky inflation from supply mismatches and strong consumer spending despite productivity gains from AI.
- He argues the Fed must remain vigilant and that only a severe downturn would halt the inflationary trend.
Position For Fed Constraints And Volatility
- Zook advises investors to recognize limited Fed room to cut given inflation and prepare for stagflation risks.
- He recommends positioning portfolios for volatility and cautious valuation exposure.