Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Asian Hedge Fund manager based in HK/SG with over 20 years of experience managing Asian Long/Short Equity funds. Macroeconomic top-down analysis generates thematic investments that are further researched from the bottom-up. Research is supplemented with advanced technical analysis. 
Previous experience includes M&A with Morgan Stanley and CPA with Deloitte in NYC. Wharton MBA.

US Treasuries: YOU BREAK IT YOU BOUGHT IT!

From Rust to Riches: The Next Copper Boom

Overview # 28 – Capital Flows into Hard Assets Continue

Macroeconomics

<ul>
<li>Tariff revenue increased substantially in the 2nd quarter of 2025 and has reached $27 billion in June.  </li>
<li>At current levels, tariff revenue will increase to approximately $300 billion annually, far short of the $600 billion to $1 trillion projected by the Administration earlier this year.</li>
<li>The negative effects of tariffs are already being seen in the economic numbers with inflation expectations high, consumer sentiment low and job numbers falling rapidly.</li>
</ul>


Tariff revenue increased substantially in the 2nd quarter of 2025 and has reached $27 billion in June.  
At current levels, tariff revenue will increase to approximately $300 billion annually, far short of the $600 billion to $1 trillion projected by the Administration earlier this year.
The negative effects of tariffs are already being seen in the economic numbers with inflation expectations high, consumer sentiment low and job numbers falling rapidly.


Tariff End Game: Was It Worth It?