The Return of the Trump Put | Trillions

This episode explores the market's reaction to a pause in tariffs, dubbed the "Trump put," and its implications for ETFs. Against the backdrop of market turbulence and Goldman Sachs' fluctuating recession predictions, the hosts analyze significant intraday ETF movements, such as the QQQ's 12% surge and SOXL's 50% increase, highlighting the resilience of "DeGen" investors who bought the dip. More significantly, the discussion pivots to bond market illiquidity, as seen in the JAAS CLO ETF, and the surprising strength of ETF flows, driven by Vanguardians and retail investors. Volume analysis reveals record-breaking SPY trading, with Bloomberg Intelligence data suggesting a positive market trend following such high-volume days. As the discussion pivoted to active versus passive management, the hosts explore how active managers navigated the volatility and consider the impact of macro events on investment strategies, particularly in the context of China's market intervention. The episode concludes by examining the prospects for World X China ETFs, weighing the impact of ongoing tariffs against the potential for government support in China's market.