Markets Happy Hour Podcast - February 6, 2025 - Spend, Spend, Spend

In this week's Markets Happy Hour Podcast we digest the challenging month of January and reflect on where we stand now that markets have contended with President Trump's grand entrance.

And President Trump knows how to make an entrance. The torrent of executive actions in the first few week's of the administration (54 to date) have created a deluge for markets who are still grappling with the election results, the warp speed movement of technology and a post-inflationary reality that is still only coming into focus. There have been a series of announcements in January and early February - from the launch of Deepseek to the surprise tariffs (since paused) on Mexico, Canada and China, and markets are increasingly jittery and lurching from one piece of news to another.

This leads us to question the resilience of both corporate projections as well as markets themselves and overall we expect public equity markets to have more volatility going forward, and that fixed income markets will maintain their elevated volatility. Overall this bodes well for the private market segment of a portfolio if it exists.