NOW Ep98: Tariffs | Pause and effect

Loading player...
Where are investors seeking refuge amid uncertainty? And will the recent rebound in global stocks last? In this episode of No Ordinary Wednesday, Investec Wealth and Investment International's Chief Investment Strategist Chris Holdsworth, and investment strategist Osa Mazwai explore the ongoing impact of US President Donald Trump’s tariff policies.

Podcast key moments:

00:00 – Introduction
01:09 – What’s been the market reaction since Trump’s tariff about turn?
01:46 – Why was there a huge bond sell-off?
03:05 – What does the US bond market turbulence mean for SA?
04:21 – Is the US still a go-to safe haven?
05:26 – What other safe havens are investors looking to?
06:58 – Can China rely on domestic demand to drive growth?
08:39 – How does the tariff pause on SA impact investor sentiment?
10:11 – What are markets watching regarding the GNU?
12:05 – Currency expectations?
13:09 – Recession in the US?
14:37 – How are tariffs disrupting global supply chains?

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
  • 00:00 Introduction
  • 01:09 What’s been the market reaction since Trump’s tariff about turn?
  • 01:46 Why was there a huge bond sell-off?
  • 03:05 What does the US bond market turbulence mean for SA?
  • 04:21 Is the US still a go to safe haven?
  • 05:26 What other safe havens are investors looking to?
  • 06:58 Can China rely on domestic demand to drive growth?
  • 08:39 How does the tariff pause on SA impact investor sentiment?
  • 10:11 What are markets watching regarding the GNU?
  • 12:05 Currency expectations?
  • 13:09 Recessions in the US?
  • 14:37 How are tariffs disrupting global supply chains?
15 Apr 2025 English South Africa Business · Investing

Other recent episodes

Investec Minds Ep 3: Sipho Maseko on the hard decisions that define leaders

What does leadership look like after the CEO title falls away? In this episode of Investec Minds, former Telkom Group CEO Sipho Maseko joins Investec's Nkateko Mathonsi and Louise Pillay to reflect on leadership, business transformation and South Africa's future. Drawing on his experience at Telkom, Vodacom and BP Southern…
13 Aug 33 min

No Ordinary Wednesday Ep 133 | Bond markets: A licence to yield.

The easy gains may be over, but the case for bonds is not. Annelise Peers, Chief Investment Officer at Investec Bank Switzerland, and Awongiwe Booi, Fixed Income Analyst at Investec Investment Management in South Africa, unpack why attractive yields, easing inflation and South Africa’s underpriced reform story could make fixed…
12 Aug 21 min

Everything Counts | Episode 53: Tips for tax filing season in South Africa

In this episode of Everything Counts, we unpack one of the most overlooked opportunities to improve your financial position: your tax return. Many people treat tax filing season as a simple compliance exercise and move on. But as our experts explain, your SARS tax return is actually a powerful financial…
11 Aug 28 min

Macro Monday Ep126: Slowing momentum in global equities

While global equities are up strongly over the last year, there’s been a clear slowing in momentum in the last six months. According to Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, this implies that much of the strong US earnings performance has been priced into the market.
3 Aug 9 min

No Ordinary Wednesday Ep 132: Investing in AI's next chapter

Artificial intelligence is moving faster than almost anyone expected. After attending two of the world's biggest technology conferences in Boston and San Francisco, Investec global equity analysts David Smith and Zane Bezuidenhout unpack what they learned from the executives shaping AI's future. From surging demand and infrastructure bottlenecks to agentic…
28 Jul 16 min