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Blackstone's private credit fund has capped investor redemptions at 5%.
Torsten Slok of Apollo Global Management identifies three major tailwinds for US economic growth: the AI boom, the "One Big Beautiful Bill," and an "Industrial Renaissance" of reshoring manufacturing.
Torsten Slok of Apollo Global Management predicts that US nominal GDP will grow at approximately 5% over the next 12 months.
Torsten Slok of Apollo Global Management forecasts that US real GDP growth will be between 2% and 2.5% over the next 12 months.
Torsten Slok of Apollo Global Management asserts that the AI boom is initially inflationary due to significant spending on data center and energy buildouts.
Hyperscalers are spending approximately $700 billion on the buildout for the AI boom, contributing to initial inflation.
Torsten Slok of Apollo Global Management predicts that both headline and core inflation in the US will remain above 3% for at least the next 12 months.
Torsten Slok of Apollo Global Management identifies the risk of higher oil prices, potentially caused by issues in the Strait of Hormuz, as the number one risk to the economic outlook.
Torsten Slok of Apollo Global Management states that Europe is not experiencing the same economic tailwinds as the US, specifically the AI boom, the "one big beautiful bill," and the industrial renaissance.
Europe is falling behind in AI due to inflexible labor markets, which increases the cost of hiring and firing and reduces risk-taking, and less developed financial markets with limited access to venture capital.
The United States and Iran have not agreed on key issues such as the Strait of Hormuz or Iran's nuclear program and enriched uranium.
The United Kingdom, Germany, and France are considering developing their own diplomatic track to engage with Vladimir Putin about resolving the war with Ukraine.