Galaxy Digital CEO Mike Novogratz on Wednesday warned that the U.S. economy is starting to behave like an emerging market.
Speaking with CNBC, Novogratz said that macroeconomic instability, including surging interest rates and tariff shocks, is rattling global investors and weakening market confidence.
This shift is already visible in bond and currency markets—and it’s making institutional players nervous, according to Novogratz.
“We’re starting to behave more like an emerging market than a developed market,” he said.
The comment came amid heightened market uncertainty following President Donald Trump’s sweeping new tariffs and the accompanying bond sell-off.
Yields on 10-year and 30-year U.S. Treasury bonds surged to 4.6% and over 5%, respectively, in recent days, unsettling investor sentiment.
According to Novogratz, the combination of fiscal stress, geopolitical realignment, and abrupt policy shifts is creating economic conditions more common in less mature financial systems.
“It’s the early stages,” he said, but the trend “should get us all …Full story available on Benzinga.com
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