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As markets rebound from April lows, Apollo Asset Management is signaling to investors to remain cautious. Chief economist Torsten Sløk highlighted 10 key economic headwinds to watch out for, including rising borrowing costs, tariff impacts, and resurgent student loan payments.
Sløk noted that these factors could threaten growth despite recent market optimism. Outlined below are the 10 headwinds Apollo showcased:
No. 1: Moody’s downgrade increasing borrowing costs for U.S. consumers and firms.
No. 2: The ongoing negative impact of tariffs and earnings.
No. 3: Trade deal uncertainty and trade war retaliation risk.
No. 4: Extremely high uncertainty for business planning and weak corporate confidence.
No. 5: Consumer spending slowing because of higher prices in stores such as Walmart (NYSE:WMT).
No. 6: Historically weak consumer confidence.
No. 7: Lower tourism.
No. 8: Student loan payments restarting.
No. 9: Housing demand weakening because of higher mortgage rates.
No. 10: DOGE laying off government workers.
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