We Are Less Positive on U.S. Equities, Says Barclays’s Hobbs

The video discusses the current state of US equities, highlighting the impact of trade stories and tariffs on profit margins. It also examines global economic factors, such as China's policies and US fiscal measures, that influence market dynamics. Inflation concerns are addressed, noting the potential effects of tariff hikes on market pricing and the bond market. The analysis concludes with insights into the bond market, emphasizing low real rates and cautious inflation expectations.

Discuss the relationship between wage growth and inflation as mentioned in the text.

What are the implications of the bond market's current position as discussed?