RUSH TRANSCRIPT Hit by ░░░░░░░░ s own tariffs More ░░░░░░░░ that just a moment ░░░░░░░░ ll cross live now ░░░░░░░░ Brian vending he s ░░░░░░░░ chief investment officer at ░░░░░░░░ j p wealth advisers ░░░░░░░░ Brian obviously mark have ░░░░░░░░ a hit broadly since ░░░░░░░░ beginning of April What ░░░░░░░░ you think is the ░░░░░░░░ risk to market s ░░░░░░░░ forward Every the biggest ░░░░░░░░ market s going forward ░░░░░░░░ is is Polish year ░░░░░░░░ out of Washington and ░░░░░░░░ of foods reaction to ░░░░░░░░ uncertainty around tariffs and ░░░░░░░░ right now it s ░░░░░░░░ that when you could ░░░░░░░░ economic data that we ░░░░░░░░ thus far this year ░░░░░░░░ the economy grow New ░░░░░░░░ this year in over ░░░░░░░░ first few months and ░░░░░░░░ 20 five was on ░░░░░░░░ footing and to liberation ░░░░░░░░ accelerated those uncertainties regarding ░░░░░░░░ free to be that ░░░░░░░░ U s haven t ░░░░░░░░ since 19 or nine ░░░░░░░░ also putting into question ░░░░░░░░ as well as partnership ░░░░░░░░ other go Bubble economies ░░░░░░░░ the world so the ░░░░░░░░ is sitting back waiting ░░░░░░░░ see how trade tariffs ░░░░░░░░ negotiations play out how ░░░░░░░░ concerns might trickle through ░░░░░░░░ us economy and impact ░░░░░░░░ consumer and then we ░░░░░░░░ to focus on rate ░░░░░░░░ I think if the ░░░░░░░░ wait too long in ░░░░░░░░ those assessments some of ░░░░░░░░ damage might be already ░░░░░░░░ to the us economy ░░░░░░░░ on the flip side ░░░░░░░░ think finding a middle ░░░░░░░░ around tears between the ░░░░░░░░ States and it s ░░░░░░░░ partners is definitely key ░░░░░░░░ investors because as we ░░░░░░░░ from earnings season thus ░░░░░░░░ from publicly traded companies ░░░░░░░░ re they re mixed ░░░░░░░░ able to give outlooks ░░░░░░░░ earnings like we we ░░░░░░░░ heard from today from ░░░░░░░░ for example others that ░░░░░░░░ painting a picture of ░░░░░░░░ with him without tears ░░░░░░░░ that level woman 30 ░░░░░░░░ investors I think it ░░░░░░░░ still going to leave ░░░░░░░░ in a in a ░░░░░░░░ of time over the ░░░░░░░░ couple of months where ░░░░░░░░ markets are still going ░░░░░░░░ be choppy air o ░░░░░░░░ I want to jump ░░░░░░░░ there because we re ░░░░░░░░ gold hitting a new ░░░░░░░░ briefly What does that ░░░░░░░░ us what I mean ░░░░░░░░ tells us that over ░░░░░░░░ last several weeks the ░░░░░░░░ has been treating primarily ░░░░░░░░ fear and anxiety and ░░░░░░░░ at the technical levels ░░░░░░░░ with with gold ramping ░░░░░░░░ quite a bit Investors ░░░░░░░░ the world are looking ░░░░░░░░ safe havens and looking ░░░░░░░░ alternatives other than just ░░░░░░░░ us treasuries and we ░░░░░░░░ seen that also in ░░░░░░░░ spreads move on interest ░░░░░░░░ as well as the ░░░░░░░░ of the us dollar ░░░░░░░░ that confidence issue is ░░░░░░░░ something that s playing ░░░░░░░░ which is why we ░░░░░░░░ seeing pick up in ░░░░░░░░ prices as well swiss ░░░░░░░░ and also Japanese yen ░░░░░░░░ well using those as ░░░░░░░░ to safe haven assets ░░░░░░░░ end again I think ░░░░░░░░ the news and and ░░░░░░░░ yesterday s we saw ░░░░░░░░ the markets and easy ░░░░░░░░ about fed independence coming ░░░░░░░░ question you start to ░░░░░░░░ safe haven assets like ░░░░░░░░ catch a bit in ░░░░░░░░ short term Well Brian ░░░░░░░░ you so much for ░░░░░░░░ us today That s ░░░░░░░░ that take their thank ░░░░░░░░ now, the international monetary