Invesco portfolio manager of multi-asset strategies Ben Gutteridge joins Wealth to discuss stock market (^DJI, ^IXIC, ^GSPC) dynamics and investor positioning as President Trump’s trade strategy unfolds.
"The longer [trade tension] lingers … the more difficult I think it will be for stock markets to perform," Gutteridge warns. However, he cautions against becoming overly defensive, noting that "we shouldn’t forget what a strong hand the US has in these negotiations."
While acknowledging investor nervousness, Gutteridge remains optimistic. "On balance, I think there’s enough here to maintain a bias toward equities," he notes.
However, Gutteridge highlights that the previous Trump administration notably "was a period of absent inflation," whereas inflation has been a significant economic concern so far in Trump’s second term.
To hedge against tariff risks, Gutteridge recommends investors add bond yields (^TYX, ^TNX, ^FVX) to their portfolios.
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