The meeting discussed the impact of trade tariffs and hypervolatility on global markets. Stephen Burke highlighted the VIX index spiking to 44 and the S&P 500's 4.04% decline, with Europe and China also experiencing significant drops. The bond market's unusual moves, including China's reduced treasury holdings, were noted. The discussion also covered the potential for increased inflation and recession odds, with betting markets showing a 60% chance. The impact on higher education and research, and the potential for China to innovate more due to US tariffs, were debated. The meeting concluded with a focus on investment strategies in a volatile market.
The meeting discussed the impact of trade tariffs and hypervolatility on global markets. Stephen Burke highlighted the VIX index spiking to 44 and the S&P 500's 4.04% decline, with Europe and China also experiencing significant drops. The bond market's unusual moves, including China's reduced treasury holdings, were noted. The discussion also covered the potential for increased inflation and recession odds, with betting markets showing a 60% chance. The impact on higher education and research, and the potential for China to innovate more due to US tariffs, were debated. The meeting concluded with a focus on investment strategies in a volatile market.