The Return of the Trump Put

In this episode of Trillions, Joel Weber and Eric Balchunas discuss the market's reaction to a pause in tariffs, dubbed the "Trump put," and its impact on ETFs. They analyze significant intraday moves, highlighting the performance of ETFs like QQQ and SOXL, and the behavior of different investor types, including Vanguardians and DeGens. The conversation touches on the disappearance of earlier signs of market illiquidity, the resilience of ETF flows, and record-breaking trading volumes in SPY. They also explore active managers' performance during the market turbulence and the prospects for China-related ETFs given ongoing trade tensions.