How should I be positioned? with Torsten Slok (Apollo) and Jason Draho (UBS CIO)
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Torsten rejoins Jason to exchange thoughts on the health and direction of the U.S. economy, the road ahead for monetary policy (along with the implications of new Fed leadership), AI disruption, and overall market risk considerations. Featured are Jason Draho, Head of Asset Alloc
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4 itemsHow should I be positioned? with Torsten Slok (Apollo) and Jason Draho (UBS CIO)
The desk's thesis emphasizes a cautious outlook on U.S. economic growth in the context of evolving monetary policy and ongoing global uncertainties. Per the full note [source], the commentary from Torsten Slock and Jason Draho suggests that the anticipated acceleration in U.S. growth may be impacted by persistent data noise, fiscal adjustments, and the introduction of AI into various sectors. This nuanced view prompts a recommendation to manage risk as investors navigate an environment characterized by both opportunity and volatility. The current consensus target for USD pairs indicates a central expectation around 1.075, implying traders should remain vigilant for shifts in economic data that could affect market positioning.
How should I be positioned? with Richard Bernstein (Janus Henderson) and Jason Draho (UBS CIO)
The current macroeconomic landscape in the U.S. is evolving, with expectations for the Federal Reserve's policy adjusting as we approach the end of 2026. Per the full note [source], Richard Bernstein highlights that the Fed's potential for rate cuts may be more limited than market players anticipate, suggesting a potentially bullish stance on equities amidst these monetary conditions. The desk notes that ongoing improvements in employment and consumption data could significantly shape traders' sentiment going forward, aligning with Bernstein's assessments that contradict overly pessimistic forecasts about economic slowdown.