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#TorstenSlok, chief economist, Apollo Global Management: Fed data show #lower-income #households are experiencing higher #inflation b/c their consumer #spending baskets place greater weight on categories like rent, electricity, food, transportation & other necessities whose prices have risen faster

Graph showing the bottom 40% of US households by income suffer a higher inflation rate than the rest.

#TorstenSlok, chief economist, Apollo Global Management: #Stocks are extremely #overvalued; Shiller Cyclically Adjusted #PE #ratio near all-time highs #markets #equities #MarketSky

Chart showing that the cyclically adjusted Shiller PE ratios is near its all-time reached around 1999.

#TorstenSlok, chief economist Apollo Global Management: “The bottom line is that #investors in the #S&P500 remain overexposed to #AI.” #markets #stocks #MarketSky #EconSky

Chart showing the high and increasing shares of overall S&P 500 earnings and market cap held by the 10 largest companies in the index.

Apollo Global Management’s chief economist Torsten Slok, who previously warned of US stagflation, now sees a low recession risk, citing robust growth drivers and aligning with Wall Street’s optimistic outlook.
#YonhapInfomax #ApolloGlobalManagement #TorstenSlok #USRecession #Stagflation #GDPGrowth #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=99327

#TorstenSlok, chief economist, Apollo Global Management: demand for #gold among #retailinvestors has exploded over the past year

A chart indicating the assets under management by gold ETFs globally has surged in the last year or so.

Apollo Global Management Chief Economist #TorstenSlok: “Despite the turbulence surrounding #LiberationDay in April, #foreign #investors ended up buying more #US #assets in 2025 than in 2024. #markets #Usecon

Chart indicating foreign buyers bought more US assets in 2025 than in 2024 in four categories: equities Treasury bonds and notes, corporate bonds and government agency bonds.

#TorstenSlok, chief economist, Apollo Global Management: Forty percent of #companies in the #Russell2000 Index have no #earnings

A chart indicating a gradual increase in the number of companies in the Russell 2000 that have negative earnings. It’s currently about 40%.

1 #TorstenSlok, chief economist, Apollo Global Management: “Data from the Census Bureau and Ramp shows that #AI adoption rates are starting to flatten out across all firm sizes” 🧵

A chart indicating a levelling off of AI adoption.

#TorstenSlok, chief economist at Apollo Global Management: Looking at annualized month-over-month growth rates shows that 55% of items in the #CPI basket are growing faster than 3%. This is the reason why it is difficult for the Fed to cut interest rates in December. #inflation #USEconomy

A chart illustrating the recent increase in the number of CPI basket items with a more than 3% price increase above the 50% level.

#TorstenSlok, chief economist, Apollo Global Management: The average #family in the #US currently pays $6,850 annually for #healthinsurance, and the average annual payment for #employers is $20,143. That is a total annual cost for health insurance per family of $26,993

A chart from Apollo Global Management showing the sharp escalation in health care premiums in the US from 1999 to 2025.

#TorstenSlok, chief #economist, Apollo Global Management: Since the beginning of the year, #profitmargins have increased for the #MagnificentSeven and declined for everyone else

A chart illustrating that profit margins have increased for the Magnificent Seven while declining for the remaining 493 stocks in the S&P 500.

“There are about 5,500 #datacenters in the #US, and in #Germany there are 529 … The bottom line is that the rest of the world is far behind the US when it comes to #AI.” - #TorstenSlok, chief economist, Apollo Global Management.

A chart illustrating that the US has 5,246 data centers, while Germany has the next largest amount at 529. Canada has 337.

“ #Households now spend almost as much on #restaurants, #takeout and #delivery as on groceries eaten at home.” - #TorstenSlok, chief #economist, Apollo Global Management

A chart indicating the continuous rise in household spending on restaurants and takeout/delivery since 1960 to recently, interrupted briefly by the pandemic. It now constitutes almost 50% of hh spending on food.

#TorstenSlok, chief #economist, Apollo Global Management: There is still strong growth in #datacenter #construction, but the current growth rate at 30% is lower than the 80% observed two years ago

A chart indicating that data center construction growth has slowed recently, although it remains at elevated levels. It also shows that other nonresidential construction investment remains low.

According to #TorstenSlok, the chief economist at Apollo Global Management, the current #AI-driven #marketbubble is more stretched than the #dotcom frenzy of the late 1990s. Slok compares the 12-month forward #pricetoearnings (P/E) #ratios of the top ten companies in the S&P 500 against the rest of the index, showing that the #PEratios of the top ten companies are #evenhigher than they were at the peak of the dot-com bubble. https://gizmodo.com/wall-streets-ai-bubble-is-worse-than-the-1999-dot-com-bubble-warns-a-top-economist-2000630487?AIagents.at #AIagent #AI #ML #NLP #LLM #GenAI

2 Apollo Global Management chief economist #TorstenSlok: Looking at #foreign participation in #30-year #Treasury #auctions shows a downward trend in recent months.

1 Apollo Global Management chief economist #TorstenSlok: Indirect bidding in #Treasury #auctions refers to bids submitted on behalf of #ForeignInstitutions. These bidders don’t participate directly, but instead have their bids placed by intermediaries—hence “indirect." #USTreasuries #bonds 🧵

A chart from Apollo Global Management Chief Economist Torsten Slok showing indirect bidding in US Treasury auctions - a proxy for demand from foreign institutions - has been declining recently.

#TorstenSlok, chief economist at Apollo Global Management: After #LiberationDay, the #dollar has disconnected from #interestrate differentials. #USD #forex #tariffs #currencies #markets

A chart indicating that from mid 2022 until recently, the US dollar was closely correlated with interest-rate differentials in the five-sector, but after April 2, Trump’s so-called Liberation Day, they diverged.

3 #TorstenSlok, chief economist, Apollo Global Management: “The bottom line is that #inflation will increase significantly for the #product categories where #China is the main producer of that good, likely including #fireworks”

2 #TorstenSlok, chief economist, Apollo Global Management: Similarly, there are many different categories of #products that are #imported into the #US where #demand is #inelastic, and #China is the only provider of that product. 🧵 #tariffs #tradewar #trade

#TorstenSlok

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