Steve Hou is a quantitative researcher at Bloomberg covering multi-asset strategy research and holds a PhD in financial economics. He joined Phil Rosen to discuss the US-China AI arms race, how investors can position for the shifting world order, stock market performance in Latin America, South Korea and South Africa, and much more.
This episode is sponsored by Public: https://public.com/openingbell
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Timestamps:
0:00 - Intro
0:49 - Why 2026 Is the Year Geopolitics Becomes ‘Macro’
4:25 - Who’s Winning So Far
9:06 - US vs China Risk & Camp Exposure
11:35 - Do Fundamentals Still Matter?
15:47 - Picking Sides vs Owning Both
20:54 - Policy Risk - What Happens After Trump?
23:31- Managed Decoupling & Volatility Cycles
26:05 - Currencies & Returns
31:15 - Do Winners Keep Winning?
37:06- AI Arms Race: No ‘Winner,’ Just a Long Marathon
40:27 - Where to Find Steve’s Research
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