Bloomberg Surveillance Market Optimism and Trump-Putin
Aug 13, 2025
Jens Nordvig, Founder & CEO at Exante Data, dives into the fascinating world of foreign exchange opportunities, highlighting President Trump's strategy to intentionally weaken the dollar. Stephanie Baker, a Senior Writer at Bloomberg News, offers an intriguing preview of the upcoming Trump-Putin Summit, exploring Russia's assertive military position in Ukraine and what it means for global dynamics. Their engaging discussion sheds light on economic strategies and geopolitical tensions, making for a thought-provoking listen.
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Tariff Effects Are Lumpy And Delayed
- Tariffs affect inflation unevenly across sectors and months; past Chinese tariffs actually fell into the recent report.
- Nordvig warns reciprocal tariffs from August 10 will show up in September–October and complicate the Fed's job.
Fed Should Look Through Tariff One-Offs
- Nordvig says the Fed may be over-focusing on realized inflation rather than treating tariffs as one-off level shifts.
- He argues the Fed should 'look through' some tariff-driven price-level moves rather than overreacting to short-term readings.
Curve Steepening Reflects Risk Premiums
- David Seif highlights persistent structural deficits and rising investor concern about higher long-term yields.
- He describes recent curve steepening as a risk-premium rise, not a growth-driven repricing.
