December Interview Collection: KCM Trade Chief Market Analyst Tim Waterer’s Global Markets Insights

23 December | TRT World – Markets & 2026 Outlook

Tim shared his views on market leadership, sector valuations and key risks shaping the global outlook for 2026.

• Valuations for core AI leaders such as Nvidia and major hyperscalers remain supported by earnings and forward guidance.

• Second-tier and AI-adjacent stocks face increased scrutiny due to uncertain monetisation pathways.

• Banking stocks benefited from easing macro risks, while gold continued to perform as an “asset for all occasions.”

• Key risks for 2026 include US–China trade relations, while utilities may emerge as beneficiaries of sustained AI-driven power demand.

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22 December | BFM 89.9 (Malaysia) – Morning Run

Tim discussed global equity performance, central bank policy expectations and foreign exchange dynamics.

• US equities rebounded on renewed interest in technology stocks, with the possibility of a Santa Claus rally supporting sentiment.

• Despite sector rotation, tech remains favoured due to stronger earnings and revenue growth.

• The Federal Reserve is expected to cut rates further in 2026, potentially beyond current dot plot projections.

• Diverging policy paths between the Fed and the RBA continue to support the Australian dollar.

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16 December | Ausbiz TV

Tim provided analysis on Federal Reserve policy, currency movements and precious metal markets.

• Rotation away from mega-cap technology stocks was described as a healthy market adjustment.

• US non-farm payrolls were highlighted as a key indicator shaping near-term Fed decisions.

• A softer US dollar environment has been supportive of the Australian dollar.

• Silver continues to outperform gold due to strong industrial demand and looming supply constraints.

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16 December | TRT World

Tim examined the outlook for AI-related stocks, US dollar movements and monetary policy expectations.

• The pullback in AI stocks was characterised as a constructive correction, encouraging broader market participation.

• Technology stocks remain well positioned following robust earnings performance.

• The US dollar weakened amid expectations of a more dovish Federal Reserve stance.

• Treasury yields and labour market data remain critical drivers into 2026.

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11 December | TRT World (Live from Bangkok)

Tim discussed the market reaction to the Federal Reserve’s rate decision, alongside developments in crypto, commodities and AI stocks.

• Markets reacted cautiously to the Fed’s rate cut due to uncertainty over the pace of future easing.

• Bitcoin softened on expectations of fewer rate cuts, while gold eased in response to yield movements.

• Silver diverged positively, supported by industrial demand and supply-side constraints.

• Corporate earnings, including Oracle’s results, highlighted growing scrutiny of AI investment returns.

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8 December | RTHK Radio 3 – Money Talk

Tim shared insights on inflation data, global trade risks and major central bank policy paths.

• Core PCE inflation data reinforced expectations for a Fed rate cut, with a potential terminal rate near 3%.

• US–China trade relations remain a key macro risk for 2026.

• The Bank of Japan was flagged as a potential global risk, particularly for carry trades.

• India is expected to continue balancing geopolitical relationships with economic pragmatism.

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5 December | TRT World

Tim Waterer discussed growth prospects in emerging markets and how investors are balancing headline optimism with underlying risks.

• Strong GDP data is being offset by tariff risks, currency pressures and policy uncertainty.

• Market sentiment has cooled amid concerns about growth sustainability into 2026.

• Investors remain selective, favouring markets with clear policy direction and resilience.

• Geopolitics and global trade dynamics are expected to keep volatility elevated.

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3 December | BBC – Bitcoin Market Update

Tim Waterer was invited to the BBC to analyse Bitcoin’s rebound above USD 92,000 and the drivers behind recent volatility.

• Price swings reflected macro uncertainty, including Bank of Japan rate speculation and risk-off sentiment.

• Downside pressure was amplified by carry trade unwinds and concerns over potential investor selling.

• The rebound followed positive US regulatory developments and broader access to crypto-related ETFs.

• Bitcoin is increasingly acting as a risk barometer, with direction hinging on upcoming Federal Reserve decisions.

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