Bloomberg Daybreak: Asia Edition Trump Vows New China Tariffs, Wall Street's 'Bessent' Effect
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Nov 26, 2024 
In this insightful discussion, Helen Zhu, Chief Investment Officer at NF Trinity, delves into the potential effects of new tariffs on Chinese goods, while Ross Mayfield, Investment Strategist at Baird, analyzes Wall Street's response to the nomination of Scott Besant. Tom Bruce, Macro Investment Strategist at Tanglewood, shares his expertise on the bond market's volatility and the Fed's potential moves. Together, they unpack the complex U.S.-China trade dynamics and the broader economic outlook, offering a nuanced view of current market trends.
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Episode notes
US vs. China Markets
- U.S. market positives are priced in, while China's at a trough.
- China's potential upside hinges on tariff overhang resolution in 2025.
Bessent's Expected Impact
- Bessent is expected to moderate Trump's tariff tendencies and focus on tax cuts.
- Expect continued volatility and potential changes within the administration.
Bond Market Reaction & Challenges
- Bond markets reacted positively to Bessent's focus on deficit reduction.
- Balancing economic growth, tax cuts, and deficit reduction will be challenging.