Bloomberg Daybreak: Asia Edition Daybreak Holiday: Market Expectations, The 12 Days of Christmas Cost
Dec 24, 2025
Cameron Dawson, Chief Investment Officer at New Edge Wealth, discusses market expectations for 2026, emphasizing strong earnings growth despite high valuations. Brian Levitt, Global Market Strategist at Invesco, provides insights on central bank policies and the potential impact on volatility and global markets. Amanda Agati, Chief Investment Officer at PNC, reveals the 12 Days of Christmas cost at $51,476, highlighting the influence of housing costs and rising service prices on consumer trends.
AI Snips
Chapters
Transcript
Episode notes
April Low Created A Wall Of Buying
- Investor positioning hit extreme pessimism at April lows, creating a large pool of money that bought every dip. This drove low volatility and allowed equities to levitate at high valuations despite elevated starting multiples.
Policy Uncertainty Triggers Volatility
- Policy uncertainty drives volatility and drawdowns; clarity tends to produce market bottoms and advances. The tariff debate and clearer inflation expectations helped form a bottom this year.
Tariffs, Fiscal Holes And Long Yields
- Tariff rulings could raise Treasury issuance needs if tariff revenue falls, pressuring long yields. Global yield moves suggest investors are already pricing varied fiscal and inflation risks beyond Fed expectations.