Bloomberg Surveillance

- Kate Moore, CIO at Citi Wealth
- Wendy Schiller, professor at Brown University
- Jim Caron, CIO: Cross Asset Solutions at Morgan Stanley Investment Management
- Molly Brooks, US Rates Strategist at TD Securities

Kate Moore, CIO at Citi Wealth, offers her outlook for equities in 2025 as trade tensions heighten while good jobs data reinforces a rally. Jim Caron, CIO: Cross Asset Solutions at Morgan Stanley Investment Management, discusses continued warning signs about the US economy coming from the bond market and talks about how momentum factors into investment strategies. Wendy Schiller, professor at Brown University, talks about the latest trade tensions with China and other priorities of the Trump administration. Molly Brooks, US Rates Strategist at TD Securities, talks about whether the US could see multiple rate cuts by the end of 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJune 4th, 2025
Featuring:
1) Robert Kaplan, Vice Chairman of Goldman Sachs, joins to discuss the Fed, interest rates, and resiliency of the US economy. US stock futures hold onto two days of gains as investors await labor market data, which has so far held up better than expected amid the Trump administration's trade war.
2) Ernie Tedeschi, Director of Economics at the Yale Budget Lab, discusses his recent findings on the impact of tariffs on US companies and the US economy. Investors will follow services data and ADP's report on private-sector employment for updated information on the strength of the US economy, ahead of Friday's nonfarm payrolls report, as the market continues to climb on healthy eco data and in spite of tariffs.
3) Sassan Ghahramani, President and CEO at SGH Macro Advisors, joins to discuss President Trump's social media post upending US-China trade sentiment. President Trump called Xi Jinping "VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH" in a late-night social media post, raising questions about the fragile economic truce between the US and China. Tensions between the two countries are increasing, with the US recently barring the shipping of critical jet engine parts to China and seeking to slap fresh curbs on Huawei= chips, among other measures.
4) Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries, talks about the air traffic controller concern for airlines and offers her analyst recommendations for US airlines.
5) Eric Rosen, author at The Rosen Report and former head of credit trading at UBS, talks about the dollar's position on the globe and how deficits and debt could weigh on it. While some economists fear a notable weakening in US employment in coming months under the weight of tariffs, that hasn’t shown up in the data yet.

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-Leland Miller, co-founder and CEO of China Beige Book
-Matt Wood, Global and US Commercial Technology & Innovation Officer, PwC
-Rep. Andy Barr (R-KY) 

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Tom Porcelli and Tony Capuano

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Bloomberg Surveillance hosted by Tom Keene & David GuraJune 3nd, 2025
Featuring:
1) Tina Fordham, founder at Fordham Global Foresight, on how geopolitics are never 'going back to normal'
2) Chris Harvey, Chief US Equity Strategist at Wells Fargo, on markets. Stock futures are lower after the weekend brought more tariff drama, with China and the US accusing each other of violating a trade deal concluded just a few weeks ago. There’s also bearish comments on the dollar: Morgan Stanley expects the currency to slump 9% by mid-2026.
3) Tom Porcelli, Chief US Economist at PGIM Fixed Income on how the Fed is on the sidelines, for now. But as economic activity slows this year, we expect the Fed will ease in H2.
4) Evan Osnos, author and New Yorker staff writer, on his new book "The Haves and Have-Yachts"

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Jordan Rochester & Sharon Miller.

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- Brandon Farris, Vice President: Energy & Resources Policy at the Steel Manufacturers Association
- Kate Kalutkiewicz, Senior Managing Director: Trade Practice & McLarty Inbound at McLarty Associates
- Aditya Bhave, Senior US Economist at Bank of America
- Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments

Brandon Farris, Vice President: Energy & Resources Policy at the Steel Manufacturers Association, joins to discuss President Trump saying he will double steel tariffs and how that could affect consumers and businesses. Kate Kalutkiewicz, Senior Managing Director: Trade Practice & McLarty Inbound at McLarty Associates, discusses the latest on the US-led trade war and whether talks with China are stalling. Aditya Bhave, Senior US Economist at Bank of America, offers his outlook for the US economy and potential for a recession in 2025. Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, discusses her outlook for equities in 2025 and whether there could be more choppiness in the summer months.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJune 2nd, 2025
Featuring:
1) Stephen Stanley, Chief Economist at Santander, joins for an extended conversation on the outlook for the US economy, lower consumer spending, and potential for a shallow recession in the US. Global stocks started the new month under pressure due to a flare-up in global trade tensions and geopolitical uncertainty. Gold is heading for its biggest gain in almost four weeks as geopolitical and trade tensions revived demand for haven assets.
2) Kathy Jones, Chief Investment Strategist, Fixed Income at Charles Schwab, discusses bond market warnings and why the Fed won't be coming to the rescue any time soon. The dollar fell 0.5%, extending a streak of five monthly losses, while Treasury yields rose across the curve, with the 10-year rate up four basis points to 4.44% in the early part of the morning as risk appetite dissipates.
3) Maya MacGuineas, President of the Committee for a Responsible Federal Budget, talks about the House bill "debt fiasco" and why markets haven't fully awaken to the debt and deficit problem in the US. It comes as Treasury Secretary Scott Bessent says the US "is never going to default" as the deadline for increasing the federal debt ceiling approaches. Bessent declines to specify an "X date" for when the Treasury will run out of cash, but says the goal is to bring the deficit down over the next four years.
4) Henrietta Treyz, co-founder at Veda Partners, talks about President Trump threatening an increase to steel and aluminum tariffs, how the tax bill could be transformed in the Senate, and other DC headlines. Uncertainty prompted by President Donald Trump’s trade agenda picked up after China and the US accused each other of violating a trade deal concluded last month. Trump also said he would double tariffs on steel and aluminum imports. Meanwhile, Ukraine staged a dramatic series of strikes across Russia, deploying drones hidden in trucks deep inside the country to hit strategic airfields.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on Gen Z's interest in chain restaurants and a Business Insider story on AI already taking human jobs.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Seema Shah & Greg Boutle.

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- Lindsey Piegza, Chief Economist at Stifel
- Neil Dutta, Head: US Economic Research at Renaissance Macro Research
- Dana Peterson, Chief Economist at The Conference Board
- Andrew Nocella, Chief Commercial Officer at United Airlines

Lindsey Piegza, Chief Economist at Stifel, reacts to PCE and discusses her outlook for markets and the US economy. Neil Dutta, Head: US Economic Research at Renaissance Macro Research, discusses the potential for more rate cuts than are currently being priced into the market. Dana Peterson, Chief Economist at The Conference Board, talks about recent findings on the outlook of CEOs for business in the US and overall sentiment about the economy. Andrew Nocella, Chief Commercial Officer at United Airlines, talks about his outlook for the company and industry this year.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 30th, 2025
Featuring:
1) Greg Boutle, Head of US Equity & Derivative Strategy at BNP Paribas, Aoifinn Devitt, Chief Global Strategist at Moneta, and Ira Jersey, Chief US Interest Rates Strategist with Bloomberg Intelligence. react to PCE. April’s so-called core personal consumption expenditures price index, which excludes food and energy items, rose 0.1% from March. From a year ago, it advanced 2.5%, Bureau of Economic Analysis data out Friday showed. Both readings were in line with economists’ forecast.
2) Seema Shah, Chief Global Strategist at Principal Asset Management, joins to talk about any potential upheaval that could come as continued on-again, off-again tariffs. The Trump administration is exploring alternative options to pursue tariffs, including using other legal authorities, but these options may be more complicated and time-consuming, and could take months to execute. As a result, traders are reassessing their appetite for riskier assets amid concerns over weaker growth and fiscal strain.
3) Pat Haskell, Head: Muni Bond Group at BlackRock, on muni performance through 2025 and how munis function as a safe haven amid tariff uncertainty. Investors are also parsing data for clues on how the policies are affecting the economy amid concerns over weaker growth and fiscal strain.
4) Lindsey Piegza, Chief Economist at Stifel, brings us into the market open and talks about the outlook for inflation in the US after today's PCE report. Meanwhile in Washington, President Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates at their first in-person meeting since the president's inauguration. Powell stressed that the path of policy will depend on incoming economic information.
5) Phillip Diehl, President of US Money Reserve and 35th Director of the US Mint, talks about recent fluctuations in gold prices and gold buying trends among consumers. Gold fell, putting it on track for an almost 2% weekly loss, amid a technical pullback in prices ahead of key US economic data. Despite the declines, bullion's haven appeal remains intact due to uncertainties surrounding Trump's tariff agenda and tensions with China.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Wendy Schiller & Anastasia Amoroso

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- Peter Navarro, White House Director of the Office of Trade and Manufacturing Policy
- Bob Michele, CIO: Fixed Income at JPMorgan Asset Management
- Angelo Zino, Senior Research Analyst at CFRA Research
- Libby Cantrill, Head: Public Policy at PIMCO

Peter Navarro, White House Director of the Office of Trade and Manufacturing Policy, joins for an extended discussion on trade and tariffs after a US court blocked many of President Trump's tariffs on imports from dozens of countries. Libby Cantrill with PIMCO discusses options for President Trump after his tariffs were blocked by a US court. Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, discusses signals and warnings from the bond market on tariffs, debt, and deficits. Angelo Zino, Senior Research Analyst at CFRA Research, reacts to Nvidia earnings.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 29th, 2025
Featuring:
1) Anastasia Amoroso, Chief Investment Strategist at iCapital, joins to talk about a resilient US economy and momentum in markets in spite of Washington uncertainty. After a US court blocked the bulk of President Donald Trump's import tariffs, it led to widespread gains in risk assets and lifted investor sentiment.
2) Dan Ives, Global Head: Technology at Wedbush Securities, reacts to Nvidia earnings and discusses the outlook for the company and Big Tech. Nvidia is ramping up production of its latest semiconductor design, Blackwell, and is offering its chips as part of whole computer systems to speed up AI deployment.
3) Andrew Gilbert, Partner at ECP, joins to discuss demand for AI data centers and the immense growth opportunity following another Nvidia earnings. Nvidia's CEO Jensen Huang is concerned about US trade restrictions on China hindering the company's long-term growth, and is appealing to the Trump administration to allow chip production for China again.
4) Wendy Schiller, professor at Brown University, discusses the latest DC headlines and how a US court blocking President Trump's tariff policy could affect his presidency and potentially his legacy. A US court has blocked many of President Trump's tariffs on imports from dozens of countries, declaring them illegal and throwing his tariff strategy into turmoil.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on Paramount's relationship with the White House and Bloomberg's story on how AI is impacting hiring at Salesforce.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Jordan Rochester & Nancy Lazar

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• Eswar Prasad, Cornell University Tolani Senior Professor:Trade Policy on the strength of the dollar
• Rep. French Hill (R-AR), Chairman, House Committee on Financial Services on Washington News of the Day
• Mandeep Singh, Bloomberg Intelligence analyst on NVDA earnings
• Frank Lee, The Hongkong & Shanghai Bkg Corp, on NVDA earnings 

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 28th, 2025
Featuring:
1) Amanda Lynam, Head of Macro Credit Research at BlackRock, discusses perceived mixed signals related to the financial strength of the U.S. consumer
2) Jordan Rochester, Head of FICC Strategy at Mizuho EMEA, details why the Fed will be witnessing higher government spending over the next two years.
3) Jennifer Johnston, Director: Muni Bond Research at Franklin Templeton on why the muni market experienced volatility in April in response to uncertainty over tariffs and other Federal policies.
4) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on the stay-at-home son trend that Jeopardy started. Plus, is $20 an hour a good starting point for companies.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Steve Chiavarone & Nicholas Burns.

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- Roosevelt Bowman, Senior Investment Strategist at Bernstein Private Wealth Management
- Amanda Lynam, Head: Macro Credit Research at BlackRock
- Terry Haines, founder at Pangaea Policy
- Lynn Martin, President of NYSE

Amanda Lynam, Head: Macro Credit Research at BlackRock, joins to discuss opportunities in corporate credit as bond market yields remain stubbornly high. Roosevelt Bowman, Senior Investment Strategist at Bernstein Private Wealth Management, talks about opportunities in equities as President Trump pivots on EU tariffs and as the bond market signals more warnings about the US debt and deficit. Terry Haines, founder at Pangaea Policy, joins to talk about President Trump's economic policies and support heading into the summer. Lynn Martin, NYSE president, on IPO activity in 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 27th, 2025
Featuring:
1) Steve Chiavarone, Senior Portfolio Manager at Federated Hermes, talks about why he remains constructive on the US economy and the potential for a cyclical recovery in the US. The dollar bounced back, and equity-index futures for the S&P 500 and Nasdaq 100 jumped more than 1%, as President Donald Trump extended a deadline on implementing aggressive Euro-area tariffs.
2) Nicholas Burns, former US ambassador to China, joins for an extended discussion on US-China relations and where they stand in a second Trump administration. The plans for a new version of China's "Made in China 2025" campaign indicate that China will largely stick to its strategy of prioritizing manufacturing, despite criticism from the US and Europe, and will focus on developing core technologies such as semiconductors and new energy materials.
3) Jane Foley, Head of FX Strategy at RaboBank, talks about dollar weakness and the yen carry trade amid noise coming out of the Japanese bond market. Tong-term government bonds yields in Europe and Asia also fell, while the yen and other currencies declined, as investors reacted to the news from Japan. Japan’s 20-year bond yield slid as much as 21 basis points after Bloomberg News reported the nation’s finance ministry asked market participants for their views on the appropriate amount of government debt issuance.
4) Henrietta Treyz, co-founder at Veda Partners, joins to discuss the trade deals likely not to materialize for President Trump's administration, and what types of tariff rates the US could expect this summer
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insider story on bringing plus-ones on work trips and a WSJ story on the skyrocketing cost of a Hamptons girls weekend trip.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Barry Eichengreen & Emily Roland.

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- Jim Bianco, president and founder at Bianco Research
- Nadia Lovell, Senior Strategist: US Equity at UBS
- Dana Telsey, CEO at Telsey Advisory Group
- Russell Brownback, Head: Global Macro Positioning at BlackRock

Jim Bianco, president and founder at Bianco Research and Nadia Lovell, Senior Strategist: US Equity at UBS, join to offer their outlook on US equities and whether it could sustain its post-Liberation Day rebound. Dana Telsey, CEO at Telsey Advisory Group, discusses consumer health and the outlook for luxury goods in the US and globally. Russell Brownback, Head: Global Macro Positioning at BlackRock, talks about signals from the bond market globally after the House passed its tax bill.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 23rd, 2025
Featuring:
1) Sebastien Page, head of Global Multi-Asset and Chair of the Asset Allocation Steering Committee at T. Rowe Price, joins for an extended discussion on whipsawing markets and where money managers are allocating their money in an increasingly uncertain economic environment. The S&P 500 remains on course for its worst weekly performance since the selloff following President Donald Trump’s tariff announcements at the beginning of the April.
2) Barry Eichengreen, professor at University of California-Berkeley, talks about the Trump administration's international economic policies and whether they serve both global and domestic interests. It comes as US businesses are the most worried about the impact of President Donald Trump’s shifting tariff policies on their revenues, with more than half projecting a hit of at least 25% to their revenue, according to a survey by HSBC.
3) Emily Roland, Co-Chief Investment Strategist at John Hancock Investment Management, talks about continued signals from global bonds about US debt and whether it's just another warning signal that will pass. Many investors believe Trump has learned his lesson and will implement a more modest tariff plan, which is why they are no longer worried about the impact of tariffs on the market, but the market is still susceptible to macro shocks, and investors are now focusing on fundamentals.
4) Joe Lavorgna, Chief Economist at SMBC Nikko Securities, joins to discuss President Trump's tweets on tariffs that would affect Apple and the EU.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on expensive mocktails and a Bloomberg News story on Tom Cruise receiving an aircraft carrier for one of his missions.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Russell Brownback & Leslie Palti-Guzman.

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- Greg Peters, Co-CIO at PGIM Fixed Income
- Scott Chronert, Head: US Equities at Citi
- Nela Richardson, Chief Economist at ADP
- Nisha Patel, Portfolio Manager: Fixed Income at Parametric

Greg Peters, Co-CIO at PGIM Fixed Income, joins to discuss yesterday's Treasury Auction and warning signs coming from the bond market. Scott Chronert, Head: US Equities at Citi, discusses his S&P 500 target for 2025 and headwinds equities face amid tariff and tax uncertainty. Nisha Patel, Portfolio Manager: Fixed Income at Parametric, discusses tax loss harvesting amid the House passing its tax bill and portfolio management in an uncertain economic environment. Nela Richardson, Chief Economist at ADP, reacts to US jobless claims.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 22nd, 2025
Featuring:
1) Stephanie Roth, Chief Economist at Wolfe Research, joins to discuss upside surprises in tariffs and inflation and how the reconciliation bill could lift 10-year yields. US bonds and stocks steadied after a volatile day, with investors focusing on talks over President Donald Trump's tax and spending bill and private-sector data offering insight on the economy.
2) Russ Brownback, Head of Global Macro Positioning for Fixed Income at BlackRock, joins for an extended discussion on Treasury Yield warnings and what yesterday's lackluster auction means for markets. The worry in debt markets is that the tax bill would add trillions of dollars to an already bulging deficit at a time when investors’ appetite is US assets is waning.
3) Terry Haines, founder at Pangaea Policy, reacts to the tax bill vote. House Republican leaders released a revised version of President Trump's tax and spending bill, which includes a higher limit on the deduction for state and local taxes and other changes to win over GOP factions.
4) Mark Douglas, CEO at MNTN, talks about going public today and raising funds at the top of the marketed range. Ryan Reynolds’ Ad Firm MNTN, Holders Raise $187 Million in IPO as the company has a market value of about $1.24 billion and a fully diluted value of about $1.6 billion, with Founder and CEO Mark Douglas set to have 26% of the voting power after the offering.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on anxiety-inducing wearables and a WSJ story on negotiating a best and final job offer.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Marta Norton & Brian Belski.

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- Saira Malik, CIO and Head of Equities & Fixed Income at Nuveen
- Terry Haines, founder at Pangaea Policy
- Bill Dudley, former president of the Federal Reserve Bank of New York
- Aasem Khalil, Investment Banking Client Service Head at Goldman Sachs

Saira Malik, CIO and Head of Equities & Fixed Income at Nuveen, joins for a discussion on markets and outlook for softening US economic growth. Terry Haines, founder at Pangaea Policy, joins the program to discuss tax bill negotiations. Bill Dudley, former president of the Federal Reserve Bank of New York, joins to talk about his Bloomberg Opinion column on the Fed preparing for the unexpected. Aasem Khalil, Investment Banking Client Service Head at Goldman Sachs, joins our Lisa Abramowicz for a conversation about the US economy and deal and business environment.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 21st, 2025
Featuring:
1) Stuart Kaiser, Head of US Equity Trading Strategy at Citi, discusses how China-US tariff news supports stocks and why we could continue to see shocks this year. Investors are becoming cautious due to the economic outlook and policy uncertainty, with fractious US budget negotiations also a concern.
2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, talks about why he expects more gains for stocks and remains bullish on the S&P. Wall Street was heading for a lower open as momentum from the US stocks rally continues to fizzle out, with S&P 500 futures sliding 0.5% after a recent rally.
3) Stephen Roach, Senior Fellow, Paul Tsai China Center at Yale Law School, on the playbook of US and China in trade negotiations and why a persistent uncertainty shock will likely freeze business decision making. China's Commerce Ministry threatens legal action against anyone enforcing US restrictions on Huawei chips, escalating the tech dispute. Despite the tensions, Chinese officials express their wish to improve relations,
4) Marta Norton, Chief Investment Strategist at Empower, on the defiant US economy and whether a new tax package could be a long-term positive for markets. Traders are betting that long-term Treasury yields will surge due to concerns over the US government's debt and deficits, fueled by President Donald Trump's tax-cut bill.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on downtown becoming the new uptown when it comes to real estate for New York's wealthiest, and Washington Post's story on how some of the NFL's top players could be headed to the Olympics.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Ed Yardeni & Angela Stent.

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- Stephen Miran, Chairman: Council of Economic Advisers at the National Economic Council
- David Malplass, former President of the World Bank 
- Priya Misra, Portfolio Manager - Core Plus Fund at JPMorgan Asset Management
- Torsten Slok, Chief Economist at Apollo

Stephen Miran, Chairman: Council of Economic Advisers at the National Economic Council, joins to discuss the Trump administration's economic agenda and goals. David Malplass, former President of the World Bank, joins for a discussion on the US economic outlook and how President Trump's trade and economic policies could change the economic trajectory of the US. Priya Misra, Portfolio Manager - Core Plus Fund at JPMorgan Asset Management, discusses opportunities in fixed income amid an uncertain path for rate cuts and potential for a US recession. Torsten Slok, Chief Economist at Apollo, offers his outlook for the US economy and markets and contextualizes recent economic data.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 20th, 2025
Featuring:
1) Ed Yardeni, president at Yardeni Research, joins for an extended discussion on the outlook for equities, his S&P target, and whether tariffs will weigh on corporate bottom lines. Asix-day winning streak in the S&P 500 is set to pause as investors bet that US stocks will lag the rest of the world. It comes as Hong Kong's pension fund managers are concerned about potential forced selling of their Treasury holdings due to Moody's downgrade of US debt, as they are only allowed to invest over 10% of their assets in Treasuries if the US has a AAA or equivalent rating.
2) Holger Schmeiding, Chief Economist at Berenberg, discusses UK-EU trade relations and the divergence of post-Soviet (lower case) liberalism and right-wing authoritarianism and their effects on European economies. It comes as European stocks are expected to outperform US stocks, driven by structural shifts such as higher investments in defense and infrastructure.
3) Angela Stent, Senior Fellow at the Brookings Institute and Georgetown professor, discusses the call between President Trump and Russian President Vladimir Putin and what it. European leaders are disappointed after a phone call between Trump and Putin, feeling that Trump is disengaging from diplomatic efforts to end the war in Ukraine and leaving Ukraine and its allies on their own.
4) Dan Tannebaum, Partner at Oliver Wyman, reacts to the Trump-Putin call and talks about what options the president has for putting pressure on Russia, as well as what opening up trade to Russia would mean. President Trump's plan for Russia and Ukraine to negotiate directly on a framework for peace talks before a truce is in place is seen as allowing Putin to buy time, with Russia presenting maximalist demands in previous talks.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a NYT story on The US Open tennis tournament makeover and Bloomberg's story on Amazon tackling last place in the NFL ratings.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with George Bory & Dean Curnutt.

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- Krishna Memani, CIO at Lafayette College
- Jeannette Lowe, Director: Policy Research at Strategas Securities
- Kathy Jones, Chief Fixed Income Strategist at Charles Schwab
- Neil Dutta, Head: US Economic Research at Renaissance Macro

Krishna Memani, CIO at Lafayette College and Kathy Jones, Chief Fixed Income Strategist at Charles Schwab, join to discuss the US economic outlook after the Moody's US credit downgrade and rise in long-term Treasury yields. Jeannette Lowe, Director: Policy Research at Strategas Securities, talks about the latest on tax bill negotiations and President Trump's economic agenda. Neil Dutta, Head: US Economic Research at Renaissance Macro, discusses US economic indicators and whether the US economy is weakening, as well as the outlook for rate cuts in 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 19th, 2025
Featuring:
1) Meredith Whitney, CEO at Meredith Whitney Advisory Group, joins for an extended discussion the economic outlook for the US and health of US banks and companies, as well as her call for 6% unemployment in 2025. US bonds, stocks, and the dollar retreated in the premarket Monday after Moody's Ratings stripped the government of its top credit rating, reinforcing concerns about the status of American assets.
2) George Bory, Chief Investment Strategist, Fixed Income at Allspring Global Investments, joins to discuss the rise in Treasuries amid the US credit downgrade from Moody's. The downgrade risks reinforcing Wall Street's growing worries over the US sovereign bond market as a ballooning budget deficit shows little sign of narrowing.
3) Dean Curnutt, CEO at Macro Risk Advisors, talks about signals from the VIX and bond market about US economic concerns and whether the US is staring down a bond crisis. The early Monday selloff in long-end US bonds is picking up on those deficit concerns following Friday’s downgrade by Moody’s.
4) Tina Fordham, founder at Fordham Global Foresight, previews President Trump's call with Russian President Vladimir Putin, and talks about the geo-economic implications of President Trump's term, as well as the latest on the US tax bill. Putin is unlikely to offer meaningful concessions to Trump, and is instead trying to maneuver to continue negotiations alongside a military offensive, while Ukraine and European leaders push for a full and immediate ceasefire.
5) Jamie Patton, co-head of Global Rates at TCW, brings us into the market open and talks about the bar for rate cuts in 2025 as Treasuries pop. Yields climbed last week as well as traders reduced expectations of multiple Federal Reserve interest-rate cuts by year-end.

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We've heard of streaming platforms realizing the power of live sports. But what we haven't heard much buzz about is the growing audience who's watching. And they have more than $3.6 trillion dollars in buying power. Bloomberg's Lisa Mateo explains.

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A smart and fun chat show about all things business. Hosted by award-winning business and economics journalists Max Chafkin (author of The Contrarian: Peter Thiel and Silicon Valley’s Pursuit of Power) and Stacey Vanek-Smith (former co-host of NPR’s Planet Money and reporter for Marketplace), Everybody's Business is powered by the unparalleled sources and reporters who bring you Businessweek magazine’s headlines and the stories behind them. The show gives listeners a window into the discussions happening in boardrooms, Zooms and group chats in power centers around the world. From interpreting Fed meetings to the business of wolf cloning, each week Max, Stacey and their friends at Bloomberg Businessweek guide listeners through what really went on during the last week from Wall Street and Main Street. Because what’s happening with money and markets is everybody’s business.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Bill Lee & Ellen Wald.

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- Andrew Hollenhorst, Chief US Economist at Citi
- Lisa Shalett, CIO: Wealth Management at Morgan Stanley
- Rep. Mike Lawler, Republican House Representative from New York
- Maya MacGuineas, President at Committee For A Responsible Federal Budget

Andrew Hollenhorst, Chief US Economist at Citi, talks about his outlook for the US economy and labor market amid uncertain tariff policy and tax negotiations. Lisa Shalett, CIO: Wealth Management at Morgan Stanley, discusses asset allocation as the S&P 500 looks to close out one of its best weeks of 2025. Rep. Mike Lawler, Republican House Representative from New York, talks about tax bill negotiations in Congress. Maya MacGuineas, President at Committee For A Responsible Federal Budget, discusses the Federal deficit and how it could be affected by the GOP tax bill.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 16th, 2025
Featuring:
1) Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, on the yet-to-be-seen effects of tariffs on global markets and why she expects more equity volatility in 2025. The S&P 500 on track for one of its best weeks this year, as easing trade tensions between the US and China buoyed appetite for risky assets.
2) Meghan Robson, Head of US Credit Strategy at BNP Paribas, on why she remains cautious on credit markets in an uncertain environment. The dollar weakened again against major peers and the 10-year yield was lower after declining Thursday, as economic data spurs speculation the Fed will cut interest rates twice this year. This, as traders await negotiations around the US budget with its promise of large tax cuts and a potential impact that will have on the fiscal deficit.
3) Bill Lee, Chief Economist at the Milken Institute, brings us into the market open and discusses uneasy progress in US trade deals and what he makes of the outcome of the US-China temporary trade truce. The 90-day reduction in tariffs has already led to a surge in transpacific shipping volumes, with bookings from China to the US particularly strong, and freight rates are rising as a result.
4) Ellen Wald, Senior Fellow at the Atlantic Council, joins for a discussion on low oil prices and what President Trump's trip to the Middle East could mean for the outlook for gas and energy prices. The International Energy Agency expects a global glut in oil supply this year and next due to increasing production and slowing demand growth.
5) Kelsey Berro, Executive Director: Fixed Income at JPMorgan Investment Management, discusses reduced tail risk of a hard landing and JPM's case for sub-trend growth in 2025. Some officials, like Atlanta Fed President Raphael Bostic, expects the US economy to slow this year but not fall into recession. He also expects one rate cut in 2025.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Michael Darda & Elizabeth Economy.

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- Jamie Dimon, CEO and Chairman of JPMorgan Chase
- Jim Zelter, President at Apollo Global Management
- Gene Seroka, Executive Director at the Port of LA
- Nela Richardson, Chief Economist at ADP

Bloomberg's Francine Lacqua sits down exclusively with Jamie Dimon, CEO and Chairman of JPMorgan Chase from the JPMorgan Global Markets Conference in Paris. Jim Zelter, President at Apollo Global Management, offers his outlook for markets and inflation amid growing economic uncertainty in the US and globally. Gene Seroka, Executive Director at the Port of LA, discusses the outlook for imports and shipping as US-China trade relations ease. Nela Richardson, Chief Economist at ADP, reacts to retail sales and jobless claims and and offers her outlook for the consumer.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 15th, 2025
Featuring:
1) Michael Darda, Chief Economist at Roth Capital Partners, talks about a decreased recession risk as trade deals begin and why Trump's raising taxes and increasing the marginal tax rate won't necessarily lead to economic and financial upheaval. Traders are looking ahead to a speech by Federal Reserve Chair Jerome Powell and a slew of economic reports to gauge the sustainability of the recent equity rally, with billionaire Steve Cohen predicting a 45% chance of a US recession.
2) Gene Seroka, CEO at the Port of LA, joins for a discussion on shipping and why normalizing relations with China won't lead to a surge in imports. Recently, Seroka has noted that the US-China tariff truce likely won't cause businesses to frontload inventory.
3) Michelle Meyer, Chief Economist, North America at the MasterCard Economics Institute, reacts to retail sales and talks about her outlook for the consumer. Market participants have a downbeat view of retails sales heading into the day, but alternative measures of spending suggest tariff frontrunning has continued during the month. Signs of a resilient consumer could continue to support stocks.
4) Elizabeth Economy, Hargrove senior fellow and co-director of the U.S., China and the world program at the Hoover Institution at Stanford University, talks about the "total reset" in the US' relationship with China, whether the US or China are winning in trade negotiations so far, and whether we'll see meaningful change in Chinese market practices. In a sign of discord today, Beijing has pushed back against a US decision aimed at curbing Chinese-made artificial intelligence chips.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Financial Times story on Gen Z changing what it means to be a reader and TripAdvisor's top destinations for travelers.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature a conversation with Harvard professor Kenneth Rogoff.

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- Jens Nordvig, CEO and founder at Exante Data
- Wei Li, Global Chief Investment Strategist at BlackRock
- Holly O'Neill, President: Consumer, Retail & Preferred at Bank of America
- Bill Dudley, Bloomberg Opinion columnist and former President of NY Federal Reserve

Jens Nordvig, CEO and founder at Exante Data, discusses Dollar strength and FX moves amid recent trade turmoil and a reshaping of the US economic landscape. Wei Li, Global Chief Investment Strategist at BlackRock, talks about her outlook for global growth, US investment, and inflation, as well as upside inflation risks. Holly O'Neill, President: Consumer, Retail & Preferred at Bank of America, discusses the state of the American consumer. Bill Dudley, Bloomberg Opinion columnist and former President of NY Federal Reserve, talks about his Opinion column on US-China trade tensions and the Fed.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 14th, 2025
Featuring:
1) Ken Rogoff, professor at Harvard University and former IMF Chief economist, joins for a two block, extended discussion on his new book, "Our Dollar, Your Problem," the "exorbitant privilege" of the dollar as the global reserve currency, and how the Trump administration is expediting the unseating of the dollar's position on the global stage. Ccurrency-centric headlines out of South Korea suggest that the dollar’s consolidation this month may be imperiled if signs grow that the US administration is now shifting focus from trade to exchange rates. At the heart of the Dollar Index’s immediate decline is a lingering concern that the Trump administration may pursue policies that involve countries selling the dollar to cure perceived economic imbalances stemming from a strong currency.
2) Wei Li, Chief Global Investment Strategist at BlackRock, joins for an extended discussion on tariffs causing further contractions, a US stock rally, and the fear of sticky US inflation. The stock recovery in stocks got an extra boost this week after the US and China cut trade tariffs, US inflation slowed, and earnings came in better than expected. Wall Street strategists are skeptical about how much further stocks can run.
3) Lindsay Rosner, Head: Multi-Sector Investing Goldman Sachs Asset Management, talks about signs of bottoms up in the credit world, upside inflation risks, and consumer strength's effects on economic growth. The yield on 10-year Treasuries advanced one basis point yesterday and the Bloomberg Dollar Spot Index fell as the Federal Reserve is expected to stay put in evaluating potential implications of tariffs.
4) David Bailin, CEO at CIO Capital and former Chief Investment Strategist at Citi, brings us into the market open and talks about his belief the US could enter a "Compression Recession" that could blindside everyone. Tensions around President Trump's trade war cooled and inflation data showed limited impacts, but there could be underlying risks to the economy.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on rival nations recruiting talent cast aside by American universities and a WSJ story on workers feeling overpaid.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with John Lipsky & Brian Belski.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 13th, 2025
Featuring:
1) Constance Hunter, Chief Economist at EIU, Matt Miskin, Co-Chief Investment Strategist John Hancock Investment Management, and Kathy Jones, Chief Fixed Income Strategist at Charles Schwab, react to CPI. Before today's CPI reading, the S&P 500 and Nasdaq showed further gains, in spite of some investors feeling wary about the lack of detail in Monday's US-China tariff announcement and the risk of another flare-up between Beijing and Washington, with trade pressures already hitting businesses.
2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, brings us into the market open and discusses his bullish equity stance. The easing of trade tensions between the US and China gives investors hope that the US economy can avoid a recession, with traders now expecting the Federal Reserve to lower rates just twice in 2025.
3) Nancy Tengler, CEO and CIO at Laffer Tengler investments, talks about the potential for renewed bullishness (or bearishness) in equities, and why she believes now is a time to turn to mid caps. Many investors are signaling the shift in trade sentiment will be enough to drive a recovery in global markets, despite some concerns.
4) John Lipsky, former managing director of the International Monetary Fund and distinguished visiting scholar at Johns Hopkins, on the US economy, global economic risks, and the Fed reversing its "red line" approach. With hopes riding high that the US economy can avoid a recession, traders now expect the Federal Reserve to lower rates just twice in 2025.
5) Brian Wieser, Principal at Madison and Wall, talks about trends as upfronts kick off for advertisers, ad spending amid economic uncertainty, and implications of Google and Apple search trial.

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- David Kelly, Chief Global Strategist at JPMorgan Asset Management
- Tiffany Wilding, Economist at PIMCO
- Monica Guerra, Head: Policy at Morgan Stanley
- Skylar Montgomery-Koning, FX Strategist at Barclays

David Kelly, Chief Global Strategist at JPMorgan Asset Management and Tiffany Wilding, Economist at PIMCO react to CPI. Monica Guerra, Head: Policy at Morgan Stanley, discusses President Trump's tariff policy, the GOP tax bill, and other Congressional priorities ahead of the summer. Skylar Montgomery-Koning, FX Strategist at Barclays, discusses FX opportunities as President Trump continues to negotiate tariffs.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Geoffrey Yu & Huw van Steenis.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

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