In this episode of Perspectives, Escala Chief Investment Officer, Tracey McNaughton, presents from New York where she discusses her observations from being on the ground. Following meetings with portfolio managers, economists, political strategists and financial advisers across four US states she discusses how President Trump's trade war is being perceived.

(0:52) Tracey, let's start with some observations of what you have seen and heard on the ground. What stood out the most?

(1:51) How about the cities? You spent time in Chicago and New York, right?

(2:48) What are people saying about China over there?

(3:30) And how are the ports doing? I've been hearing some concerning things.

(4:25) Did you get any fresh data on trade?

(5:48) Let's switch gears a bit. You mentioned some cultural shifts too?

(6:36) And tech?

(7:40) Let's pivot to markets. Tracey, you've said it feels like a period of stasis. Can you unpack that?

(8:22) So what's the disconnect?

(9:19) Let's talk specifically about earnings. What's the mood?

(10:28) And currency?

(10:58) You mentioned the CFA Conference that you went to in Chicago. What was the big takeaway?

(11:28) So private equity is in vogue. Why?

(12:50) That's huge. What does this mean for junior analyst roles?

(13:14) One of the issues we hear a lot about with private equity is the drop off in public listings. Is this an issue for the asset class do you think?

(14:14) Let's turn to geopolitics before we wrap. The new UK-US trade deal got quite a bit of airtime in the press. What's your take?

(15:33) Do you think we will see the US become more isolated?

(16:45) And what about Europe? We've heard a lot about the EU being slow to act in the past—has that changed?

(17:23) So you're saying US protectionism is acting like a catalyst to make Europe great again?