This podcast discusses the impact of current U.S. policy headlines on investors. Michael Zezas, Morgan Stanley's Global Head of Fixed Income Research and Public Policy Strategy, analyzes the increasing policy uncertainty and its implications, particularly focusing on the effects of tariffs and the shift towards a multipolar world. He highlights a positive outlook for the European defense sector due to increased spending and predicts lower yields due to slower economic growth resulting from tariffs. The podcast also notes challenges for certain U.S. sectors due to supply chain realignment but identifies opportunities in capital goods and industrial sectors. Ultimately, the podcast advises investors to consider the implications of these policy shifts on their portfolios.
