US tariffs, Fed signals, and why Asian markets are staying cool
In this week’s Market Focus Weekly from The Business Times, host Emily Lu sits down with Cedric Ho, portfolio manager at MAD Partnership, to unpack why Asian markets are keeping their cool despite a storm of headlines.
First up: tariffs. US President Donald Trump’s latest round targets everyone from Brazil to Canada, but the real sting is landing on American corporations. With companies like Nike and GM swallowing the costs, Asian exporters may escape the worst of it.
Then there’s the US Fed. Jerome Powell is holding the line on interest rates, and Ho explains why. Inflation’s still sticky, and political pressure is mounting but Mr Powell isn’t blinking. The result? A rebound in the US dollar and a ripple effect across Asian currencies.
And while Thailand’s brief border flare-up with Cambodia rattled markets early on, Thai equities have bounced back. As Ho puts it, markets fear uncertainty more than they fear conflict.
Why listen?
Because Trump’s tariffs are back but this time, markets saw them coming
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So who really gets hit?
Because the Fed isn’t pivoting anytime soon
Sticky inflation means rate cuts are on ice.
Because Big Tech’s doubling down on AI
It’s not hype. It’s a trillion-dollar investment strategy.
Because even conflict has a market rhythm
After the panic comes the rebound.
Market Focus Weekly is a podcast of The Business Times. Listen at bt.sg/podcasts, on Spotify or Apple Podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.
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Written and hosted by: Emily Liu (emilyliu@sph.com.sg)
With Cedric Ho, portfolio manager, MAD Partnership
Edited by: Chai Pei Chieh & Claressa Monteiro
Produced by: Emily & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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