00:00- The bond market is pricing in fear, the stock market is pricing in hopes02:59- Money flow revealed by household survey in 202408:16- The first year is a "trial period" and "trial interest rate hike"10:05- The US labor market is worsening11:56- "Long-term unemployment" piles up like snow on the ground16:14- The bond market is pricing in stagflation19:20- What level is the stock market at? The future of Japanese and US stocks in 202522:46- Tax cuts, tariffs, and immigration24:40- What will the landscape be like when the US interest rate cuts come to an end?25:35- The Trump deal and the stock market31:59- Itoshima's EyeIn "Pictet Market Lounge," investment professionals discuss a different topic each time, including the stock market and the bond market. "Pictet Theater LIVE" online seminar featuring performers https://www.pictet.co.jp/seminar/pict... Subscribe to Pictet Japan Co., Ltd.'s YouTube channel https://www.youtube.com/user/PictetJa... Pictet Japan Co., Ltd. website https://www.pictet.co.jp/ Spotify https://open.spotify.com/show/7k7bkbw... Apple podcast https://podcasts.apple.com/jp/podcast... Takatoshi Itoshima Strategist, Investment Strategy Department, Pictet Japan Co., Ltd. After working as a corporate research analyst at a securities think tank, he worked as an investment advisor and managed investment trust funds, mainly domestic stocks, at a major Japanese investment management company. He then worked as an active fund manager at hedge funds and independent investment management companies. He has a total of 21 years of investment experience. He has experience managing Japanese equity funds that have won the Best Fund Award three times and the Excellent Fund Award twice. At Pictet, he covers domestic stocks, which is his specialty as a strategist, as well as major country stocks. He is a regular on Nikkei CNBC's "Hiru Express" every other Monday. He also appears monthly on TV Tokyo's "News Morning Satellite," BS TV Tokyo's "Nikkei News Plus 9," and Stock Voice. He writes monthly on Toyo Keizai Online. He is a Certified Member of the Securities Analysts Association of Japan (CMA), a Certified International Investment Analyst (CIIA), and a Certified Technical Analyst (CFTe). Ryosuke Okazaki, a visiting fellow at Pictet Japan, graduated from the Faculty of Economics at Keio University in 1983. After joining Itochu Corporation and working in the United States, he joined Nomura Asset Management Co., Ltd. (now Nomura Asset Management) in 1987 as a fund manager. In 1993, he joined Bunker Trust Bank (now Deutsche Asset Management Co., Ltd.) and was involved in the management of pension funds, investment trusts, hedge funds, and other assets as a managing director in charge of investment. In 2004, he participated in the establishment of Fisco Asset Management Co., Ltd. (now Astmax Investment Advisors Co., Ltd.) as Chief Investment Officer (CIO). He became independent in 2012. In 2013, he became a member of the GAIA Investment Policy Committee, and in 2021, he became a visiting fellow at Pictet Asset Management. #US Stocks #Japanese Stocks #Foreign Exchange #NISA #Stocks #RyosukeOkazakiThe content introduced in the video is as of the time of creation and may be revised or changed without notice. Please note that the content may not be the latest. Examination number: 20241213-C9DD6F