There Is Still an Appetite for Risk Assets, Says Zurich Insurance’s Miller

The transcript discusses ongoing trade talks and their impact on markets, highlighting the potential for a deal despite current market sell-offs. It examines the direct and indirect costs of tariffs, particularly on US consumers and the global economy, which is already fragile. The discussion shifts to investor strategies in light of economic uncertainty, emphasizing the continued appetite for risk assets like equities. Finally, it explores potential asset opportunities, noting that equities may still have upside potential, while credit markets could be vulnerable. The need for caution as global growth slows is emphasized.

What is the general belief about the outcome of the trade negotiations?

• A deal is likely to be reached.

• Both sides are uninterested in a deal.

• There will be no deal.

• The negotiations have ended.

Who is expected to bear the direct cost of tariffs on goods arriving in the US?

• The US government

• The exporting country

• The US consumer

• The shipping company

What is the current state of the global industrial economy according to the transcript?

• It is booming.

• It is stable.

• It is growing rapidly.

• It is in a recession.

What is the expected performance of equities in the short to medium term?

• Equities are expected to have upside potential.

• Equities are expected to decline.

• Equities are expected to remain stable.

• Equities are expected to crash.

What investment strategy is suggested as we approach the end of the year?

• Focus solely on equities.

• Adopt a more defensive strategy.

• Invest heavily in credit markets.

• Ignore market trends.