Steve Hou is a quantitative researcher at Bloomberg covering multi-asset strategy research and holds a PhD in financial economics. He joined Phil Rosen to discuss the US-China AI arms race, how investors can position for the shifting world order, stock market performance in Latin America, South Korea and South Africa, and much more.

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Timestamps:

0:00 - Intro

0:49 - Why 2026 Is the Year Geopolitics Becomes ‘Macro’

4:25 - Who’s Winning So Far

9:06 - US vs China Risk & Camp Exposure

11:35 - Do Fundamentals Still Matter?

15:47 - Picking Sides vs Owning Both

20:54 - Policy Risk - What Happens After Trump?

23:31- Managed Decoupling & Volatility Cycles

26:05 - Currencies & Returns

31:15 - Do Winners Keep Winning?

37:06-  AI Arms Race: No ‘Winner,’ Just a Long Marathon

40:27 - Where to Find Steve’s Research

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