In our latest video insight, Steve Chiavarone, Head of Multi-Asset Group, breaks down how we’ve steered through the recent market turbulence, shares his insights on what markets may do next, and reveals the opportunities we’re eyeing in a shifting landscape.
How have we navigated the volatility?
‘Liberation Day’ brought a tonne of volatility and uncertainty to the markets, and in trying to navigate through that we set up a series of five milestones to help confirm our bullish stance.
The first thing we wanted to see was more dovish trade talk, talk about deals as opposed to ramping up tariffs even further. We’ve gotten that. We see a lot more Secretary (Scott) Bessent and a lot less of Peter Navarro – that’s been helpful.
The second thing we wanted was to see actual trade deals start to get announced, and we’ve started to see that happen as well. We’ve seen the UK trade deal, we have a framework with China, and there’s talk of more deals to come and, so we’ll be watching for those.
Thirdly, we wanted the focus to start to shift to fiscal policy and the ‘One Big, Beautiful Bill’, and while that’s a slow process, it is moving through Congress, which gives us increased confidence.
Fourth, we wanted to see bond markets settle and I’d call that a ‘partial check’. We certainly have bond yields that have continued to rise, but we don’t see that volatile disorderly movement in the bond markets like we saw in the early days after ‘Liberation Day’. So that’s starting to go in the right direction.
You can now watch the full video at the link below
