Beyond Markets

This week’s episode explores how artificial intelligence (AI) is boosting corporate profitability while reshaping the labour market. Since the launch of ChatGPT in late 2022, S&P 500 revenue per worker has climbed 15% after years of stagnation, but entry-level jobs are increasingly under pressure. The Federal Reserve’s focus has now shifted from inflation towards employment. Our economist expects five rate cuts by March 2026, though policy uncertainty and eroded trust keep our 10-year US Treasury yield forecast steady at 4.25%. History offers many examples of presidential overreach, episodes that typically prove temporary. With the Trump administration set to continue for another three and a half years, however, investors may feel compelled to exercise caution and consider diversifying beyond the US and the traditional financial system, including assets such as gold.

What is Beyond Markets?

“Beyond Markets” by Julius Baer is a series featuring conversations with experts to share recent market developments, key insights, and strategic inputs from around the globe. In each episode, we cut through the noise to offer practical advice and macro research on today’s shifting economic and market landscape.
The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.