US Exceptionalism to Persist in 2025, Nuveen Says

The video discusses the current market uncertainty and elevated equity prices, focusing on US earnings expectations and the role of tech in driving growth. It highlights the impact of volatility in rates and FX, influenced by divergent monetary and growth outlooks between the US and Europe. The video also examines mispricing in the gilt market and small caps, considering the Bank of England's potential rate cuts. Finally, it explores the implications of US growth and policy changes, such as tax cuts and tariffs, on small caps.

What is the primary driver of the US earnings expectations according to the first section?

• Healthcare sector

• Technology sector

• Energy sector

• Financial sector

What is expected to drive the volatility in rates and FX in the second section?

• Global trade agreements

• Divergent monetary and growth outlooks

• Political stability

• Technological advancements

How many rate cuts is the Bank of England expected to make according to the second section?

• Two

• One

• Three

• Four

What is the expected impact of domestic policies like tax cuts and tariffs on US small caps?

• Decrease in valuations

• Increase in international trade

• Reorientation of domestic activity

• Reduction in market opportunities

Despite higher valuations, what does the final section suggest about the equity market?

• It is overvalued

• There are still opportunities

• It is too risky

• It is stable