This monologue podcast, hosted by Michael Zezas, focuses on the impact of trade policy uncertainty on market volatility. The podcast begins by introducing the context of President Trump's re-inauguration and the subsequent investor inquiries regarding policy changes. Zezas then explains how the President's approach, maximizing optionality on tariffs, creates market uncertainty despite potentially predictable long-term economic outcomes. He uses the example of potential tariff impacts on US Treasury yields, illustrating how short-term market reactions might differ from long-term economic forecasts. The podcast concludes by advising investors to consider US public policy but also to expect significant short-term market volatility due to the inherent uncertainty in the President's policy approach.
