Navigating Year-End Risks: Tariffs, Credit, AI and More

In this month-to-month special of the "Breaks of the Game" podcast, Dominic Wilson and Josh Shifrin join the host for a discussion on current economic issues. They address concerns about tariffs, regional banks, private credit, and insurance, generally downplaying the immediate risks but acknowledging potential future impacts. The conversation extends to the government shutdown, the upcoming Fed meeting, and potential rate cuts, with varying degrees of confidence in future economic growth. They also explore the labor market's softness, the bond market's behavior, and the recent activity in the gold market, attributing it to a positional washout. Finally, they touch on the AI boom, debating whether it constitutes a bubble and how it might affect corporate balance sheets and debt financing, ending with a lighthearted discussion about Halloween costumes.