How much political risk is the market really pricing in?
Global markets rarely lack drama, but this past week managed to pack in more than most. From Washington, US President Donald Trump stunned markets by opening a criminal investigation into Federal Reserve chairman Jerome Powell, reviving old questions about the independence of the world’s most powerful central bank. At the same time, geopolitical tensions flared across multiple fronts, from Venezuela to Iran and even Greenland. The headlines were loud. Market reactions, less so.
In this episode of Market Focus Weekly, a podcast by The Business Times, host Emily Liu asks a deceptively simple question: how are investors meant to price political risk when markets seem determined to shrug it off? Joined by Aninda Mitra, head of Asia macro and investment strategy at BNY Investments, the conversation cuts through the noise to examine why Asian equities continue to rally, even as uncertainty widens and geopolitical flashpoints multiply.
Why listen
- Fed independence under scrutiny What President Trump’s move means and why markets are not panicking yet.
- Asia’s rally explained Why equities are climbing even as geopolitical risks stack up.
- Is this a sell-America trade? What stocks and currencies are really signalling across the region.
- Japan’s political wildcard How a snap election could reshape expectations for bonds, equities and the yen.
If you are trying to make sense of why markets stay calm when the world feels anything but, this episode offers context. Listen now.
Subscribe and listen to more episodes of Market Focus Weekly from The Business Times. Feedback and questions can be sent to btpodcasts@sph.com.sg.
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Written and hosted by: Emily Liu (emilyliu@sph.com.sg)
With Aninda Mitra, head of Asia macro and investment strategy, BNY Investments
Edited by: Chai Pei Chieh & Claressa Monteiro
Produced by: Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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