Marcelo Assalin, head of the William Blair Emerging Markets Debt team, stated in a report on Huobi HTX that the expected outcome of the US presidential election could lead to a slowdown in global economic growth and a temporary surge in inflation. He also predicted that increased tariffs could put pressure on trade, particularly for major economies with large trade surpluses with the US. In order to offset the impact of higher tariffs and the fragility of the global economy, Assalin and his team anticipate that global monetary policy reactions will accelerate, leading to a global decrease in interest rates. The outcome of the US presidential election will not change the expectation of a global decline in interest rates and an improvement in liquidity conditions in the second half of the year.