Partners Group CEO David Layton discusses redemption pressure in private equity, capping withdrawals at 5% for one evergreen fund due to 9.8% redemption requests, primarily from individual investors in Asia-Pacific. He emphasizes gates are a feature, not a bug, and the firm has less than 10% software exposure.

Mark McCormick expects USD/JPY to reach 160, views intervention as ineffective, and sees the dollar remaining strong due to a high interest rate, high inflation regime. He notes Asian currencies like the Korean won are underperforming due to trade shocks and LNG costs.

Brendan Murray explains the US is using 301 investigations to impose new tariffs on 60 trading partners, replacing the expiring 10% tariff authority. The tariff compliance regime will become more complicated with layered investigations into steel, autos, and industrial overcapacity.