UBS On-Air: Market Moves Top of the Morning: POTUS 47 - The next 100 days
May 8, 2025
Kurt Reiman, Head of Fixed Income Americas at UBS Chief Investment Office, shares his expertise on the implications of President Trump’s second term. He reflects on the administration's first 100 days, highlighting declining approval ratings driven by economy and immigration issues. The conversation shifts to upcoming legislative ambitions and how trade policies affect the economic landscape and markets. Reiman emphasizes the importance of adapting investment strategies in response to evolving inflation and market conditions.
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Trump's Approval Rating Dynamics
- President Trump's second term 100-day approval rating flipped since first term start, with disapproval over 50%.
- Key voter concerns are inflation, trade, economy, and immigration showing net disapproval.
Executive Orders vs Legislation
- Over 140 executive orders issued in first 100 days, a historical high compared to prior presidencies.
- Only 5 laws passed, reflecting narrow Congressional majorities and limited bipartisanship.
Southern Border Control Success
- Border encounters reduced from 200,000 to 11,000 monthly, signaling effective southern border control.
- Immigration issue remains divisive, but border control represents a marked success.