Dean Curnutt, CEO and founder of Macro Risk Advisors, provides sharp insights into today's market landscape filled with volatility. He discusses how traders are strategically navigating uncertainty ahead of the Fed's critical interest rate decision. Curnutt also highlights the implications of geopolitical tensions, particularly Turkey's political crackdown affecting the economy and investor sentiment. His thoughts on risk management strategies offer valuable perspectives for those looking to safeguard their investments in these turbulent times.
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insights INSIGHT
Gold's Unique Attributes
Gold stands out as a diversifier, unlike equities which tend to correlate during risk-off events.
It also has limited supply, making it a disciplined asset.
insights INSIGHT
Market Focus and Free Cash Flow
Free cash flow is important, but market focuses on future earnings and PE re-rating.
The market is evaluating the high CapEx spending of top S&P companies.
insights INSIGHT
Risks of U.S. Exceptionalism
Overdone U.S. exceptionalism poses risks.
Investors tend to crowd into winning markets, overlooking potential risks.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 19th, 2025 Featuring: 1)Sebastien Page, Head of Global Multi-Asset and Chair of the Asset Allocation Steering Committee at T. Rowe Price, talks about repositioning portfolios as geopolitical and trade risks continue to rise. Investors are likely to remain on edge ahead of the Fed's announcement, which is expected to hold interest rates steady but could offer clues on the outlook for the economy and monetary policy. 2) Jane Foley, Head of FX Strategy at RaboBank, talks about the Turkish lira nosedive and how it's impacting stocks. Turkish markets plummeted after the detention of President Erdogan's rival, Ekrem Imamoglu, sparking concerns of a political crackdown and potential reversal of investor-friendly economic policies. The lira hit a record low, stocks dropped sharply, and borrowing costs surged as investors sold off government debt. 3) Dean Curnutt, CEO and founder at Macro Risk Advisors, joins for an extended discussion on market volatility, the Fed, and how traders are managing all the market uncertainty. Fed Chair Jerome Powell’s news conference today will be scrutinized for his views on the potential impact of Trump’s trade tariffs and how much support the central bank could offer to the slowing economy. 4) Erin McLaughlin, Economist at The Conference Board talks about tariffs, inflation, and declining consumer confidence. Investors have slashed holdings of US equities by the most on record while cash levels jumped, according to Bank of America Corp.’s latest survey. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including President Trump's hostility toward Canada hurting NYC tourism and why companies are opting for 'Dexit' and moving to Nevada.
Bloomberg Surveillance 
