Markets & the Economy: Tariff Trouble
This content does not reflect any recommendations of Baird.
When perceived uncertainty is high, so is the capacity for resolution & relief. The collective confusion over Trump’s tariff turmoil is building suspense around the economy’s resilience. Is the pervasive gloom an overreaction to ambiguous economic signals & erratic policy OR a sober recognition that real world conditions are souring fast?
Add it to the ETF Line Up
New Launches: (week ending 4/18) a few highlights…
- HFGM~ Unlimited HFGM Global Macro ETF
- RNTY~ YieldMax Target 12 Real Estate Income ET
2 new funds from Global X
- EGLE~ Global X SP500 US Revenue Leaders
- FLAG~ Global X SP500 US Market Leaders Top 50 ETF
BlackRock caps Mega stocks at 3% with new ETF~ TOPC; aims to provide balanced exposure to the largest US Co’s addressing market concentration
New Filings: Roundhill, Tema, Defiance
Roundhill filing for a Humanoid Robotics ETFs~ HUMN which will invest in Co’s that make Humanoid robots
Tema files for 6 new thematic ETFs..
- Tema International & Moats ETF: ITOL~ Look for filing more inspired by a ‘Tariff World’
Defiance files for an anti-leverage decay ETF; this one shorts both TQQQ & SQQQ to profit from the vol drag decay
- Defiance Nasdaq 100 Double Short Hedged ETF
ETF Check Up: Flow Show, Bitcoin
VOO about to cross $50B in YTD flows
- An insane number ($720m/day pace)
- $50B used to be enough to win you the calendar year crown (and we are in April)
- On pace to do $182B, which is 82% over VOO’s record run last year
Last year, Europeans put HALF of their cash into US focused ETFs, this year ONLY 3%
- US investors have barely budged
- Asia has actually increased investment in the US
Bitcoin ETFs have eked out positive inflows the past month & YTD and IBIT is $2.4B YTD (Top 1%)
