Roubini - not so gloomy anymore

[rogermunibond]

https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/650739_Hudson_Bay_Research_-_Tech_Trumps_Tariffs_-_November_2025.pdf

 

On this trajectory of higher potential growth, US exceptionalism
strengthens rather than fades; equity valuations need not rest on bubble dynamics and should deliver solid returns
despite episodic volatility, while some credit events are idiosyncratic rather than systemic; higher trend growth
improves public- and external-debt sustainability even as a capex boom widens the current-account deficit; and
the dollar’s reserve-currency role endures, with near-term weakness likely to give way to medium-term support as
productivity and potential growth accelerate.

 

[rogermunibond]

https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/650740_Hudson_Bay_Research_-_Stock_Valuations_-_November_2025_2.pdf

 

Companion piece to Roubini's on equity valuation in a bubbly time.