Bloomberg Surveillance

Stock Movers is a new, five-minute podcast on today's winners and losers in the stock market. Listen for analysis on the companies making news in markets.   Listen on Apple: https://apple.co/4kJ43ONListen on Spotify: https://apple.co/4kJ43ONListen Anywhere: https://bit.ly/41VXOyH  See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Liz Ann Sonders & Joe Lavorgna. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

- Jean Boivin, Global Head: Research & Investment Institute at BlackRock- Kathy Bostjancic, Chief Economist at Nationwide- Sharon Miller, Co-President: Business Banking at Bank of America- Dana Telsey, CEO and founder at Telsey Advisory GroupJean Boivin with BlackRock joins for a discussion on risks weighing down US equities and whether recent news about tariffs will lead to an equity boost. Sharon Miller, Co-President: Business Banking at Bank of America, on small business in the US and what types of pressure business owners could face from tariffs. Dana Telsey of Telsey Advisory Group offers her outlook on retail and the health of the US consumer. Kathy Bostjancic, Chief Economist at Nationwide, talks about recent eco data and US growth concerns.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 24th, 2025Featuring: 1) Joe Lavorgna, Chief Economist at SMBC Nikko Securities and former Trump economic advisor, on why he believes Trump's tariff initiatives will ultimately prove bullish for the US economy, won't be inflationary, and could usher in a new economic "Golden Age" in the US. President Trump is preparing to announce "reciprocal tariffs" on April 2, targeting countries that have tariffs or barriers on US goods, but excluding some nations and blocs. The tariffs are expected to take effect immediately and may strain ties with allied nations, but the administration is not planning separate sectoral-specific tariffs at the same event. 2) Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, joins for an extended discussion on fears of a US recession and the outlook for equities. Markets are still on edge ahead of Trump’s April 2 deadline to impose reciprocal tariffs on a raft of other countries, but officials familiar with the matter said the announcement is shaping up to be more targeted than previously thought. 3) Henrietta Treyz, co-founder at Veda Partners, on the latest DC headlines and Congress' role in US trade policy amid looming tariffs and updates on negotiations over the war in Ukraine. US and Russian officials met in Saudi Arabia for closed-door talks, following American and Ukrainian teams' discussions the previous day. The talks aim to achieve a ceasefire in the war 4) Stephen Trent, Analyst at Citi, discusses the outlook for individual US airlines in 2025 after recent poor guidance. American Airlines and Delta Air Lines have slashed their financial forecasts, citing a rapid reversal of demand trends and a broad weakness in consumer spending. Poor recent updates from airlines and retailers have added to market sentiment. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including young investors' favorite retirement vehicle and the advantage Duke has in the NCAA tournament.See omnystudio.com/listener for privacy information.

- Nouriel Roubini, NYU Professor Emeritus and Senior Advisor at Hudson Bay Capital- Seema Shah, Chief Global Strategist at Principal Asset Management- Jeetendra Patel, Chief Product Officer at Cisco- Kate Moore, CIO: Citi Wealth NYU Professor Emeritus and Hudson Bay Capital's Nouriel Roubini discusses risks to the US economy and potential for stagflation amid incoming tariffs on April 2. Seema Shah of Principal Asset Management talks about portfolio positioning as the S&P looks to snap its weekly losing streak. Cisco's Chief Product Officer Jeetendra Patel talks about the impact of artificial intelligence on the broader US labor market and how Cisco is addressing those challenges in its own operations. Kate Moore, CIO at Citi Wealth, discusses her new role and how she's investing amid market volatility and policy uncertainty.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 21st, 2025Featuring:1) Karen Manna, Investment Director, Fixed Income at Federated Hermes, on market headline risks versus what's actually driving trading activity. Global stocks fell due to downbeat corporate earnings and concerns over a potential US trade war. 2) Rema Serafi, Vice Chair - Tax at KPMG, on the "Tax Trifecta" and the upcoming GOP tax legislation. Earlier this year, President Trump outlined his tax priorities in a meeting with Republican lawmakers, including ending the carried interest tax break and expanding the state and local tax deduction. Republicans are aiming to pass a sweeping tax bill this year, which would include renewing Trump's 2017 tax cut law and implementing new tax cuts, with details of a deal expected to be announced as soon as Friday.3) Alisa Rusanoff, CEO at Stealth Startup and Head of Credit at Crescendo Asset Management, talks supply chain and trade gaps amid growing threats of tariffs. Investors are facing an uncertain outlook for the global economy, with President Trump planning to impose tariffs on April 2.4) Jennifer Lawless, professor at University of Virginia, discusses the latest DC headlines, including reports on Elon Musk accessing China war secrets and the president looking to dismantle the Department of Education. President Trump signed an executive order to largely dismantle the Education Department, directing Education Secretary Linda McMahon to "take all necessary steps to facilitate the closure" of the department.5) Cathy Hepworth, Portfolio Manager at PGIM Fixed Income, brings us into the market open and discusses emerging market opportunities amid uncertainty around US economic policy. While the Federal Reserve indicated this week it sees room to cut interest rates, many economists fret the inflationary impact of tariffs will hinder central banks from delivering support to slowing economies.See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Jay Bryson & David Rosenberg. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

- Iain Stealey, CIO: Fixed Income at JPMorgan Asset Management- Mike Pyle, Deputy Head: Portfolio Management Group at BlackRock- Brooke Roach, Analyst at Goldman Sachs- Luke Tilley, Chief Economist Wilmington Trust Iain Stealey, CIO: Fixed Income at JPMorgan Asset Management reacts to Fed Chair Jerome Powell's press conference after the Federal Reserve's rate decision yesterday, and discusses the path forward amid tariff policy uncertainty. Mike Pyle with BlackRock talks about portfolio positioning following the Fed's decision to hold rates at their current level. Brooke Roach of Goldman Sachs discusses Nike earnings and the outlook for the company and consumers. Luke Tilley, Chief Economist Wilmington Trust, reacts to jobless claims and talks about recent eco data and what it says about the US economy.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 20th, 2025Featuring:1) Julian Emanuel, Chief Equity and Quantitative Strategist at Evercore ISI, offers his reaction to the Fed meeting yesterday and discusses why he thinks it was Jay Powell's finest performance. Powell downplayed growth concerns and the impact of President Trump's trade war on inflation, calling the inflationary effect of tariffs "transitory". Powell's comments, along with median forecasts showing two rate cuts this year.2) Chris Mancini, Portfolio Manager at the Gabelli Gold Fund, discusses gold hitting record highs and where it's positioned to go from here. Gold reached a record high above $3,057 an ounce due to projections of slower US growth and higher inflation this year from the Federal Reserve. The Fed kept interest rates unchanged, with Chair Jay Powell acknowledging uncertainty from President Trump's policy changes and predicting a "transitory" tariff-driven bump in inflation.3) Monica Guerra, Head: US Policy at Morgan Stanley Wealth Management, discusses how investors should understand tariff policies in the Trump administration. Trump's team is preparing to announce a fresh wave of tariffs on April 2, though the exact scope isn't clear. Trump has sent mixed messages on the Fed, at times calling for cuts and otherwise declining to intervene, and has questioned the Fed's independence.4) Daniel Kurtz-Phelan, editor of Foreign Affairs, on what FA is mostly focused on as World Order gets reshaped, including coverage of the war in Ukraine and Trump's imperialistic threats. Canada has floated doing major defense deals with Europe and improving the continent’s access to its critical minerals in response to President Trump’s threats and his pullback from US defense commitments.5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Disney's new Snow White movie and Air France capitalizing on wealthy tourists.See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, caught between mounting concerns that the economy is slowing and inflation could remain stubbornly high.Chair Jerome Powell acknowledged the high degree of uncertainty from President Donald Trump’s significant policy changes, but repeated the central bank is not in a hurry to adjust borrowing costs. He said officials can wait for greater clarity on the impact of those policies on the economy before acting.See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Sebastien Page & Dean Curnutt. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

- Steve Witkoff, White House Special Envoy to the Middle East- Gennadiy Goldberg, Head: US Rates Strategy at TD Securities- Gargi Chaudhuri, Chief Investment and Portfolio Strategist, Americas at BlackRock- David Rubenstein, co-founder of The Carlyle GroupSteve Witkoff, White House Special Envoy to the Middle East, joins for a discussion on rising Middle East tensions and the White House's strategy. Gennadiy Goldberg of TD Securities joins for a look at the outlook for US rates ahead of today's Fed decision. Gargi Chaudhuri, Chief Investment and Portfolio Strategist, Americas at BlackRock, on recent market gyrations and the outlook for equities amid a correction. David Rubenstein, co-founder of The Carlyle Group, shares his thoughts on the direction of the US economy.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 19th, 2025Featuring:1)Sebastien Page, Head of Global Multi-Asset and Chair of the Asset Allocation Steering Committee at T. Rowe Price, talks about repositioning portfolios as geopolitical and trade risks continue to rise. Investors are likely to remain on edge ahead of the Fed's announcement, which is expected to hold interest rates steady but could offer clues on the outlook for the economy and monetary policy.2) Jane Foley, Head of FX Strategy at RaboBank, talks about the Turkish lira nosedive and how it's impacting stocks. Turkish markets plummeted after the detention of President Erdogan's rival, Ekrem Imamoglu, sparking concerns of a political crackdown and potential reversal of investor-friendly economic policies. The lira hit a record low, stocks dropped sharply, and borrowing costs surged as investors sold off government debt.3) Dean Curnutt, CEO and founder at Macro Risk Advisors, joins for an extended discussion on market volatility, the Fed, and how traders are managing all the market uncertainty. Fed Chair Jerome Powell’s news conference today will be scrutinized for his views on the potential impact of Trump’s trade tariffs and how much support the central bank could offer to the slowing economy.4) Erin McLaughlin, Economist at The Conference Board talks about tariffs, inflation, and declining consumer confidence. Investors have slashed holdings of US equities by the most on record while cash levels jumped, according to Bank of America Corp.’s latest survey.5) Lisa Mateo joins with the latest headlines in newspapers across the US, including President Trump's hostility toward Canada hurting NYC tourism and why companies are opting for 'Dexit' and moving to Nevada.See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Richard Portes & Angela Stent. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

- Peter Tchir, Head of Macro Strategy at Academy Securities- Ed Mills, Washington Policy Analyst at Raymond James- Pierre Ferragu, Head: Global Technology at New Street Research- Stephanie Roth, Chief Economist at Wolfe ResearchPeter Tchir with Academy Securities talks about whether the market will stabilize amidst a growing global trade war. Ed Mills of Raymond James talks about the geopolitical and economic policies of a second Trump administration, how Republicans and Democrats in Congress are responding, and other Washington-related headlines. New Street Research's Pierre Ferragu discusses the outlook for Big Tech amid market as well as political uncertainty. Stephanie Roth, Chief Economist at Wolfe Research, discusses recent eco data, inflation in the US, and whether the US economy is slowing.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 19th, 2025Featuring:1) Stuart Kaiser, Head: US Equity Trading Strategy at Citi, discusses political uncertainty weighing on US equities and whether the market will see a bounce back this week as it awaits tariffs on April 2. It comes as Treasury Secretary Scott Bessent said that the underlying economy is healthy and there’s no reason for the US to see a recession, while rejecting the idea of assuring there cannot be a downturn. Economists have warned there’s rising risk of an economic downturn thanks in part to uncertainty over President Trump’s tariff hikes.2) Joumanna Bercetche, host of "Bloomberg Horizons," on the broken ceasefire between Israel and Hamas. Israel launched airstrikes across Gaza, killing hundreds of people, and shattering a nearly two-month ceasefire with Hamas. The airstrikes were in response to Hamas' refusal to release remaining hostages, with Israel demanding the release of around 60 captives and Hamas' disarmament and withdrawal from power in Gaza. The conflict has led to a surge in gold and oil prices.3) Cam Harvey, professor at Duke University, joins for an extended discussion on gold, the Fed, and a potentially slowing US economy. Fed Chair Powell faces a tricky task of reassuring investors about the economy while conveying the Fed's readiness to act if necessary, amid trade war uneasiness and market volatility just as this month's FOMC Meetings get underway.4) Skylar Montgomery-Koning, FX Strategist at Barclays, on the bear and bull cases for a US dollar and a reshaping global FX landscape. Amid German rearmament, Germany’s DAX benchmark touching a new record high, and the euro firmed to a new five-month high versus the dollar.5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Warren Buffett changing rules for Berkshire's March Madness bracket, and why you shouldn't pick Duke.See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Julia Coronado & Eric Balchunas. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

- Lotfi Karoui, Chief Credit Strategist at Goldman Sachs- Stephen Trent, Director: America Airlines Research at Citi- Henrietta Treyz, co-founder at Veda Partners- Neil Dutta, Head: US Economic Research at Renaissance Macro Research Lotfi Karoui with Goldman Sachs discusses opportunities in emerging markets during the recent US market selloff. Stephen Trent of Citi discusses the state of the US consumer as airlines express concern about outlooks. Veda Partners' Henrietta Trezy talks about recent headlines out of Washington including the near-government shutdown. Neil Dutta, Head: US Economic Research at Renaissance Macro Research, discusses why he believes the US economy could experience a growth slowdown.See omnystudio.com/listener for privacy information.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 18th, 2025Featuring:1) Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, talks about why she lowered her S&P call and talks about her outlook for US equities. Calvasina says the new estimate takes into account a drop in the US GDP target by the brokerage’s economics team. Still, the target represents a ~10% upside from the S&P 500’s Friday close.2) Mike Green, Chief Investment Strategist at Simplify Asset Management, joins for an extended discussion on the equity market correction and whether it's time to lean into active management, consumer sentiment, and divesting from the US. Equity futures dropped after Treasury Secretary Scott Bessent dismissed recent declines as healthy, telling NBC News he’s not worried by the slump in US stocks, after about $5 trillion was wiped from the S&P 500’s value and the index tumbled into a correction.3) Julia Coronado, founder and president at MacroPolicy Perspectives, talks about the potential for a slowdown in the US economy and outlook for markets amid tariff uncertainty. President Donald Trump announced that he would impose both broad reciprocal tariffs and additional sector-specific tariffs on April 2. 4) Julie Norman, professor at University College-London, discusses the US ramping up attacks on the Houthi rebels in Yemen as President Trump turns his focus to Putin and Ukraine. President Donald Trump ordered military attacks on Houthi militia sites in Yemen in response to maritime attacks on vessels sailing through the Suez Canal and southern Red Sea. It comes as Trump said he will speak with Russian President Vladimir Putin on Tuesday to discuss ending the fighting in Ukraine.5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Disney's succession plan and kids using AI to cheat.See omnystudio.com/listener for privacy information.

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with John Stoltzfus & Doug Irwin. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.