Bloomberg Daybreak: Asia Edition Trump Steps Up Tariff Threats, Eco Data Look Ahead
Jul 14, 2025
Roderick von Lipsey, Managing Director at UBS Private Wealth Management, and Mary Nicola, Bloomberg Markets Live strategist in Singapore, discuss President Trump's escalating tariff threats. They analyze the market's calm amid potential trade chaos and the upcoming Q2 earnings, expected to be the weakest since mid-2023. The duo also explores the impact of tariffs on corporate performance and emerging markets, alongside shifting investor attitudes toward cryptocurrencies amid growing scrutiny. Insights into U.S.-Asia trade dynamics and Federal Reserve pressures add depth to their conversation.
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Tariffs Impact Earnings Outlook
- Companies face unusual conditions due to tariff uncertainty impacting earnings quality.
- Earnings for Q2 are expected to show growth around 6%, slightly above consensus estimates.
Volatility Boosts Bank Trading Revenue
- Bank trading revenue benefited from high market volatility in Q2, especially April.
- Financials and asset managers are expected to report strong results due to this increased activity.
Tariffs Drive Persistent Inflation
- Rising tariff-related input costs, like steel, are pressuring company margins and raising consumer prices.
- Inflation is expected to stay above the Fed's 2% target due to these tariff effects.