The Economist.
In the past few years, there's been a sea change in markets.
Stocks have become more and more correlated with each other,
so they tend to be moving in the same direction.
And by the way, stocks and bonds have become more correlated as well.
This gives investors a headache.
Until recently, they've been able to use bonds to cushion their losses when the stock market crashes.
But that doesn't work when both stocks and bonds move together.
And there's another problem.
Private equity firms are unable to sell their investments.
Companies that private equity firms bought in the 2018 to 2023 era,
they just can't seem to sell them.
Some think this might have an unexpected cause.
They blame politicians and, in particular, populists.
So, today, have leaders like Donald Trump broken investors' most important models?
And what, if anything, can they do about it?
You're listening to Money Talks from The Economist,
our weekly podcast on the markets, the economy, and the world of business.
In Singapore, I'm Ethan Wu.
In Washington, D.C., I'm Alice Fulwood.