Bloomberg Surveillance

 Jamie Dimon is in Shanghai for JPMorgan's China summit. It's the first time the bank's flagship event is being held in person since 2019. Bloomberg News sat down for a wide-ranging, exclusive interview with the JPMorgan CEO. Here is his interview with Bloomberg's Stephen Engle. 

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Brian Levitt, Inveso Global Market Strategist, says we are close to the end of the tightening cycle. Mandeep Singh, Sr. Technology Analyst for Bloomberg Intelligence on Nvidia's march toward $1 trillion market value. Greg Valliere, Chief US Policy Strategist at AGF investments says, House Speaker Kevin McCarthy is a "serious player" following the weekend's debt ceiling negotiations. Katy Kaminski, Chief Research Strategist at Alphasimplex says, she's looking for a breakout in US treasury yields. Lee Ferridge, Head of Macro Strategy at State Street, says sterling/US dollar will hit $1.15 by the second half of this year.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Mike Wilson, Morgan Stanley Chief US Equity Strategist, says the bear market is continuing. Megan Greene, Kroll Institute Global Chief Economist, says the Fed is not finished here. Jeannette Lowe, Strategas Managing Director of Policy Research, says crossing the X-date would not necessarily mean a US default. Dan Ives, Wedbush Senior Equity Analyst, says AI could add "another $30 per share to the Apple story." Daniel Ricciardo, Red Bull Racing Reserve Driver & 2018 Monaco Grand Prix Winner, wants to find an F1 seat in 2024, and wouldn't rule out a return to racing with Red Bull.
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Jay Bryson, Wells Fargo Chief Economist, says we are always flying blind in this economy. Douglas Holtz-Eakin, American Action Forum President, discusses debt-limit talks between Biden and McCarthy. Diana Amoa, Kirkoswald Asset Management CIO of Long Biased Strategies, says valuations aren't "based purely on fundamentals," and that investors are getting "FOMO." Larry Adam, Raymond James Chief Investment Officer, says tech continues to reinvent itself. Mandeep Singh, Bloomberg Intelligence, discusses Nvidia soaring on strong AI demand outlook.
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Greg Peters, PGIM Fixed Income Co-CIO, says the yield curve is already pricing in a recession. Oliver Chen, Cowen Senior Equity Research Analyst, discusses the slump in European luxury retailers. James Lucier, Capital Alpha Partners Senior Political Analyst, discusses debt-limit talks and DeSantis' potential announcement of his 2023 presidential bid on Twitter with Musk. Liz Young, SoFi Head of Investment Strategy, says the market is showing "pretty classic late cycle behavior." Doug Kass, Seabreeze Partners President, explains why he thinks the debt ceiling is a sideshow distracting investors from the seriously negative ramifications of a top heavy market.
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Savita Subramanian, BofA Global Research Head of US Equity & Quantitative Strategy, raises her 2023 target for the S&P 500.Greg Valliere, AGF Investments Chief US Policy Strategist, discusses debt-limit talks between Biden and McCarthy. Julian Emanuel, Evercore ISI Chief Equity & Quantitative Strategist, sees a recession starting in the second half of this year. Torsten Slok, Apollo Global Management Chief Economist, says a recession is on the horizon. Bill Winters, Standard Chartered CEO, is not expecting another banking crisis. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Despite the lack of a banking crisis, Subadra Rajappa, Societe Generale Head of US Rates Strategy sees credit tightening conditions lingering.Christopher Marinac of Janney Montgomery Scott sees regional banks "marching forward" with lending and profits. Lisa Hornby, Schroders Head of US Multi-Sector Fixed Income sees a cautious Fed saying they "may go a little bit further"Michael O'Leary, CEO of Ryanair sees airfares rising 5-10% for the next couple of years.Bloomberg's Annmarie Hordern reports on the US debt ceiling.
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Sonali Basak, Bloomberg News Wall Street Correspondent says Morgan Stanley CEO Jim Gorman announcing he will resign in the next 12 months is the surprise news from today's AGM.Priya Misra, TD Securities Global Head of Rates Strategy says she sees the Fed hiking one more time and "it's a high bar for them to keep going".Henrietta Treys, Veda Partners Economic Policy Research Director says there is a 2% chance the US defaults on its debt. Jordan Rochester, Nomura G-10 FX Strategist says the dollar will zigzag the rest of this year like it did in 2021. David Bailin, Citi Global Wealth CIO says putting money overseas right now is a "gimmee".Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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 John Kirby, National Security Council Coordinator for Strategic Communications says if you don't take care of the nation's debt, virtually nothing else matters in terms of what you're trying to do around the world. Ellen Zentner, Morgan Stanley Chief US Economist says the Fed is close enough to restrictive. Barbara Reinhard, Voya Investment Management Head of Asset Allocation sees the US outpacing the rest of the world with inflation data "likely to go our way". Joe Feldman, Telsey Advisory Group Senior Research Analyst says consumers are stronger than we think and have money to spend. Jim Bianco, Bianco Research Founder & President. says there's likely more pain to come thanks to the ongoing bank turmoil. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Amy Wu Silverman of RBC Capital Markets says the market consensus is bearish and the tale of optimism doesn't exist. Libby Cantrill of PIMCO believes a deal on the debt ceiling is "imminent," and could come together by this weekend. Mike Schumacher of Wells Fargo Securities says global inflation remains stubborn. Michael Gapen of BofA Securities says a Fed rate hike in June can't be ruled out. Chris Marinac of Janney Montgomery Scott says banks are in a goog spot and getting better each quarter. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Marvin Loh, State Street Senior Global Macro Strategist, says a recession is unavoidable. Tiffany Wilding, PIMCO Economist says the consumer is hanging in there following retail sales data. Lindsay Rosner, Portfolio Manager at PGIM Fixed Income says the inflation battle is not over, and says a move into fixed income makes sense. Chuck Grom of Gordon Haskett warns of a "discretionary recession" in retail. Isaac Boltansky, BTIG Director for Policy Research says hearings rarely change policy ahead of the Senate hearing on the failures of SVB and Signature Bank. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Stuart Kaiser, Citi Head of US Equity Trading Strategy, says we're "bouncing into a ceiling and a floor" between 3,800 and 4,200 on the S&P 500.

Lindsey Piegza, Stifel Chief Economist, says 2Q GDP could actually surprise to the upside.

Oscar Munoz, Former United Airlines CEO, discusses the state of the airline industry. Janno Lieber, MTA Chair & CEO, discusses safety and affordability of New York City public transit.

Greg Valliere, AGF Investments Chief US Policy Strategist, discusses Biden, McCarthy's upcoming debt-limit meeting.

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Jamie Dimon joins Bloomberg News to discuss the debt ceiling, the regional banking crisis and the US economy. The CEO of JPMorgan Chase speaks with Bloomberg's Francine Lacqua from the bank's Global Markets Conference in Paris. 

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Jan Hatzius, Chief Economist at Goldman Sachs, says the market is being overly aggressive in pricing in Fed rate cuts. Cameron Dawson, NewEdge Wealth CIO, says the risk of recession is high but we're not seeing the 'whites of the eyes' in the hard data. Peter Tchir, Head of Macro Strategy at Academy Securities, says people in Washington DC have lost focus, and there's plenty of other things we should be focusing on rather than the debt ceiling. Kelsey Berro, JPMorgan Asset Management Fixed Income Portfolio Manager, says that when the Fed does cut rates, they'll be cutting aggressively. Bloomberg's Annmarie Hordern talks the debt ceiling after her exclusive interview with Treasury Secretary Janet Yellen at the G7 meeting in Japan. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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US Treasury Secretary Janet Yellen sat down for an exclusive interview with Bloomberg News. She speaks with Bloomberg's Annmarie Hordern on the sidelines of a Group of Seven gathering of finance officials in Niigata, Japan. 

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Jamie Dimon, JPMorgan Chase Chairman & CEO, says the debt ceiling issue is potentially catastrophic, and says "you will have panic" the closer the US gets to a default. After PPI data and initial jobless claims, as well as the BOE's rate hike, John Ryding, Chief Economic Advisor at Brean Capital, says a recession in the US and UK is inevitable. Gabelli Funds Co-CIO, explains exactly where he would put money to work amid all the market uncertainties. Megan Horneman, CIO at Verdence Capital Advisors, says there will be more bank crises to come. Tom Tzitzouris, Head of Fixed Income at Strategas, believes this is a good time for the Fed to pause, but to keep the door open to another hike. Brian Wieser, Madison & Wall Principal, joins to discuss Disney's earnings, and the outlook for streaming. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Chief Financial Officers now play a critical role in shaping business strategy and positioning organizations to meet future challenges. This episode focuses on LPGA CFO Kathy Milthorpe, whose career at the leading U.S. women's golf association began over 30 years ago. Milthorpe and LPGA Commissioner Mollie Marcoux Samaan speak with Scarlet Fu about the opportunities ahead for the LPGA -- with record numbers of women participating in golf, and growing sponsor interest in women's sports.

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Bill Dudley, Former NY Fed President, Bloomberg Opinion Columnist & Bloomberg Economics Senior Adviser, says its hard to see 2% inflation with the labor market this tight and wages this high. Mario Gabelli, Gabelli Funds Co-CIO, explains exactly where he would put money to work amid all the market uncertainties. Rep French Hill, (R) Arkansas, says Treasury Secretary Yellen could "step in right now" and help develop a debt ceiling deal that would "pass overwhelmingly" and be signed into law before deadline. Peter Oppenheimer, Goldman Sachs Chief Global Equity Strategist, sees the market environment ripe for nuanced and diversified investors. Henrietta Treyz, Veda Partners Economic Policy Research Director, discusses debt-limit talks between Biden, McCarthy. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Heidi Crebo-Rediker, CFR Senior Fellow, International Capital Strategies Partner & Former US State Department Chief Economist, says "there must be market pressure" in order for politicians to act on the debt ceiling. Robert Tipp, PGIM Fixed Income Chief Investment Strategist & Head of Global Bonds, says we can see a drop in yields and a widening of credit spreads if there is an "accidental default." Lisa Shalett, Morgan Stanley Wealth Management Chief Investment Officer, says no company is immune from recession. Neil Dutta, Renaissance Macro Research Head of US Economic Research, says recession is not imminent. Helane Becker, Cowen Senior Research Analyst, says travel demand is exceeding supply. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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 Jelena McWilliams, Former FDIC Chair & Cravath Swaine & Moore Partner, says regional banks must manage risk. Daleep Singh, PGIM Fixed Income Chief Global Economist, says congress is as polarized as its ever been. David Lebovitz, JPMorgan Asset Management Global Market Strategist, says the recent growth data and US jobs report don't suggest a recession. Subadra Rajappa, Societe Generale Head of US Rates Strategy, sees yields remaining range-bound. Adam Tooze, Columbia University Professor of History, sees a bifurcation of the US economy. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Economics & Fmr. Fed Governor, says the Fed is not going to quit until the labor market quits. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says "the tightening is yet to show up" as the US unemployment rate falls to 3.4% in April. Tiffany Wilding, PIMCO Chief US Economist, discusses the payrolls report beating estimates. Chris Marinac, Janney Montgomery Scott Director of Research, says most regional banks "have much more stable deposit flows than anyone realizes." Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Katrina Dudley, Franklin Mutual Series Portfolio Manager, says the ECB is signaling "that the core inflation number is still too high," following a 25 basis point hike by the central bank. Steven Ricchiuto, Mizuho Chief US Economist, says the Fed should end quantitative tightening. Matthew Monks, Bloomberg News, discusses PacWest weighing strategic options. Wei Li, BlackRock Global Chief Investment Strategist, says "we don't think this is a banking-specific systemic type of crisis. Tom Forte, DA Davidson Sr. Research Analyst, previews Apple earnings. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Bill Dudley, former Federal Reserve Bank of New York President and Jeffrey Rosenberg, BlackRock Financial Managing Director, discuss the latest rate decision and Chair Powell's news conference. They speak with Tom Keene, Jon Ferro and Lisa Abramowicz on a special edition of Bloomberg Surveillance.  

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Richard Clarida, PIMCO Global Economic Advisor and former Fed Vice Chair, breaks down the most recent Federal Reserve rate decision. He speaks with Tom Keene, Jon Ferro and Lisa Abramowicz on a special edition on Bloomberg Surveillance. 

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Betsy Duke, Former Wells Fargo Chair & Former Fed Governor, says the Fed has to be careful not to signal any movement toward this rate cut that this market is expecting. Bruce Kasman, JPMorgan Chief Economist and Head of Global Economic Research, says the case for the Fed to ease "is not that strong." David Chiaverini, Wedbush Securities Equity Research Director, says he could see the Fed pivoting away from their inflation focus and cutting rates if a "domino effect" occurs in the banking crisis. Amrita Sen, Energy Aspects Co-Founder & Head of Research, says we're seeing fear of uncertainty reflected in oil prices. John Lawler, Ford CFO, says EV demand is strong but sees more competition and pricing pressure with its electric crossover models. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Anna Han, Wells Fargo Securities Equity Strategist, says earnings contraction is already occurring. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, discusses JPMorgan's acquisition of First Republic. Thierry Wizman, Macquarie Global Interest Rates and Currencies Strategist, says the debt ceiling might "come down to the wire." Mike Krack, Aston Martin F1 Team Principal, discusses the team's strong start to the 2023 season and the Miami Grand Prix coming up this weekend. Henrietta Treyz, Veda Partners Economic Policy Research Director, discusses Biden's debt limit meeting. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Chris Marinac of Janney Montgomery Scott says First Republic Bank was caught in the 'friendly fire' from the collapse of Silicon Valley Bank. Kathy Jones, Chief Fixed Income Strategist at Charles Schwab says "it's hard to divorce the Fed's actions from what's happening in the banking sector". Mayra Rodriguez Valladares, Managing Principal at MRV Associates, does not agree with JPMorgan CEO Jamie Dimon's assessment that we're 'getting near the end of it' on bank failures. Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, says "it's remarkable the resilience we've seen" in the banking sector. Joe LaVorgna, Chief Economist at SMBC Group, says "it was Fed policy itself that caused this crisis." Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Seema Shah, Chief Global Strategist at Principal Asset Management says "stagflation by far is the worst case scenario." Phil Orlando, Chief Equity Market Strategist at Federated Hermes says they're "expecting negative GDP prints in the third and fourth quarter of this year." Doug Kass, Seabreeze Partners President reveals why, just this week, he moved back into a net short position, drawing witty parallels between the market and the New York Yankees. Bob Sulentic, President & CEO of CBRE says there will be some antiquated office buildings that can't be converted to residential. Jurrien Timmer, Global Macro Director at Fidelity Investments discusses next week's Fed rate decision and the ongoing battle with inflation. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Lindsey Piegza, Stifel Chief Economist, says the US is losing momentum, but is still resilient following the latest GDP print. Michael Nathanson, SVB MoffettNathanson Senior Research Analyst, says Meta is a $300 stock. Andrew Slimmon, Morgan Stanley Investment Management Senior Portfolio Manager, expects the market will end the year higher than 4,200. Bob Doll, Crossmark Global Investments CIO, says a slowdown is still upon us. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, says the "monetary policy to stimulate the economy right now obviously is not there because [the Fed] has to fight inflation."

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Frances Donald, Manulife Investment Management Global Chief Economist & Strategist, says "basically every traditional leading indicator of recession is flashing red." Peter Tchir, Academy Securities Head of Macro Strategy, says we're in a slow bleed into recession. Christopher Marinac, Janney Montgomery Scott Director of Research, says First Republic needs "a solution and they need one very quickly." Rep. French Hill, (R) Arkansas, discusses McCarthy's debt limit bill. Timothy Horan, Oppenheimer Senior Analyst, discusses Microsoft earnings and says the company is taking the lead on AI. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Henrietta Treyz, Veda Partners Economic Policy Research Director, discusses President Joe Biden's 2024 reelection bid. Charles Kantor, Neuberger Berman Long Short Fund and Large Cap Growth Fund Senior Portfolio Manager, says Microsoft, Google, Amazon and Meta are all well positioned to win when it comes to AI. Christopher Marinac, Janney Montgomery Scott Director of Research, discusses First Republic earnings. Rishi Jaluria, RBC Capital Markets Software Equity Analyst, previews Microsoft earnings. Paul Jacobson, General Motors CFO, says GM won't resort to layoffs to cut costs. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Jens Nordvig, Exante Data Founder & CEO and MarketReader Founder & CEO says the combination of "too high inflation and growth that's actually getting better means it's very, very hard for the ECB to relax." Margie Patel, Allspring Global Investments Sr. Portfolio Manager, still likes the tech sector. Dana Peterson, The Conference Board Chief Economist, expects between 1.5-2% growth on the month in the US. Richard Greenfield, Lightshed Partners Media and Technology Analyst and Partner, discusses upcoming tech earnings. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Priya Misra, TD Securities Head of Global Rates Strategy, says we don't know the Fed's pain threshold and the market is going to grapple with that for the rest of the year. Daniel Ives, Wedbush Senior Equity Analyst, discusses Tesla and upcoming big tech earnings. Neil Dutta, Renaissance Macro Research Head of US Economic Research, says a "cliff dive moment" in the second quarter is not happening. Mayra Rodriguez Valladares, MRV Associates Managing Principal, says the regional banks are preparing "at worst, for the beginning of a recession or at best, for a softening of the economy." Daniel Tannebaum, Oliver Wyman Global Anti-Financial Crime Practice Leader & Atlantic Council Senior Fellow, discuss Biden's plans to limit investment in China. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Seth Carpenter, Morgan Stanley Global Chief Economist, doesn't expect the Fed to cut to zero "even if we did get a mild recession." Julian Emanuel, Evercore ISI Chief Equity & Quantitative Strategist, sees banking pressures lingering for longer as they undergo an "unwind" process from fiscal and monetary expansion. Christopher Marinac, Janney Montgomery Scott Director of Research, discusses regional bank earnings. Libby Cantrill, PIMCO Head of Public Policy, says some investors see the political risk of investing in China increasing. Jonathan Gray, Blackstone President & COO, discusses the firm's first-quarter performance. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Matthew Luzzetti, Deutsche Bank Chief US Economist, expects the Fed to be cutting rates more aggressively. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, discusses Morgan Stanley earnings. Liz Ann Sonders, Charles Schwab Chief Investment Strategist, sees a return to a trading environment of higher inflation volatility. Michael O'Leary, Ryanair CEO, expects double-digit price increases for airfares this year. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance

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Jim Zelter, Apollo Asset Management Co-President, says we're in a "transition period" as markets face a higher cost of capital in debt financing. Dan Greenhaus, Solus Alternative Asset Management Chief Strategist, doesn't think we're close to a recession. Kathy Bostjancic, Nationwide Chief Economist, says consumers are still feeling the weight of high inflation. David Konrad, KBW Large Cap US Bank Equity Research Analyst, discusses US bank earnings. Carl Weinberg, High Frequency Economics Chief Economist and Managing Director, says China's 1Q GDP print is an "abysmal result." Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Steven Major, HSBC Global Head of Fixed Income Research, says it's very difficult to imagine us getting back to 4% on the 10-year. Binky Chadha, Deutsche Bank Chief Global Strategist & Head of Asset Allocation, says the equity market is not pricing in that much in terms of a credit downturn. Jordan Rochester, Nomura G-10 FX Strategist, says there's two big risks to a long EUR-USD view: a rebound in banking data and a rebound in oil prices. David Bailin, Citi Global Wealth CIO & Global Head of Investments, expects earnings to go down - probably between 7-10%. Julie Norman, UCL Centre on US Politics Co-Director, says different interests are at play in regards to China. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Mohamed El-Erian, Bloomberg Opinion Columnist and Queens' Cambridge College President, says this was not a banking crisis, rather a "banking tremor." Ken Leon, CFRA Director of Equity Research, calls the banking system "resilient" as the financial sector reports results. Valdis Dombrovskis, European Commission Executive Vice President, says the EU is constructively engaged with the US on the Inflation Reduction Act. Lupin Rahman, Head of EM Sovereign Credit & Portfolio Manager, says the Fed cycle is extremely important for major emerging markets. Erik Nielsen, UniCredit Group Chief Economics Advisor, says economic policy is not in the drivers seat anymore. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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David Malpass, World Bank President, says the developing world is under "giant pressure" from debt. Gita Gopinath, IMF First Deputy Managing Director, says the balance of risks facing the world economy remain tilted to the downside. Paolo Gentiloni, EU Commissioner for Economy, says Europe is on track to rebalance China trade. Tobias Adrian, IMF Director of Monetary and Capital Markets, says there's certainly evidence in the data of some contraction in lending. Raghuram Rajan, Chicago Booth Professor of Finance, Former IMF Chief Economist & Former Reserve Bank of India Governor, says longer-term growth "doesn't look good." 

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Jay Bryson, Wells Fargo Chief Economist, still sees the Fed hiking by 25 basis points in May following the March CPI print. Jeff Rosenberg, BlackRock Systematic Multi-Strategy Fund Portfolio Manager, says the direction of the banking crisis is "clear" but "the magnitude is not." Adam Posen, Peterson Institute for International Economics President & former BOE Monetary Policy Committee member, discusses the problems with subsidies in global trade. Tim Adams, Institute of International Finance President and CEO & former Under Secretary of Treasury for International Affairs, says this isn't a banking crisis. Mark Kimmitt, former US Assistant Secretary of State for Political-Military Affairs & Retired Brigadier General, discusses the leak of classified documents. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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 Veronica Clark, Citi Economist, sees the Fed terminal rate at 5.5 to 5.75%, anticipating another rate hike in May, June and July. Douglas Rediker, International Capital Strategies Managing Partner & Former IMF Executive Board Member, says there's a "group think" at the IMF and World Bank that contributes to the gloom forecasts. Mike Schumacher, Wells Fargo Global Head of Macro Strategy, says "something broke" but the Fed would need another "big debacle" in the markets before easing. John Bolton, Former National Security Adviser & Former US Ambassador to the United Nations, discusses the leak of classified Pentagon documents. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance 

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Subadra Rajappa, Societe Generale Head of US Rates Strategy, says yields seem to have peaked. Peter Tchir, Academy Securities Head of Macro Strategy, says investors are being "a little too complacent" to geopolitical risks. Steven Ricchiuto, Mizuho Securities USA Chief Economist, says there is a substantial amount of firepower left in the consumer. Daniel Ives, Wedbush Senior Equity Analyst, says an EV arms race is playing out. Adam Tooze, Columbia University Professor, says a zero-rate world is off the table. Get the Bloomberg Surveillance newsletter, delivered every weekday.

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Mohamed El-Erian of Bloomberg Opinion says we are likely to see the Fed go 25 basis points in May. Former Fed Governor Randy Kroszner says the Fed won't quite until the labor market quits. Tiffany Wilding, PIMCO Economist says the growth deceleration will continue. US Commerce Secretary Gina Raimondo says President Biden is obsessed with bringing manufacturing back to America. 

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Luigi Zingales, University of Chicago Booth School of Business Professor of Finance says the banking system can't operate with interest rates at 4%. Thierry Wizman, Macquarie Global Interest Rates and Currencies Strategist says it's the "speedy, aggressive and abrupt increase" to 4% rates that is the problem. Julie Norman, UCL Centre on US Politics Co-Director says Europe's more open-handed approach to China could be an advantage for the US. Carl Riccadonna, BNP Paribas Chief US Economist, Markets 360 says there's some progress on the inflation fight.  

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Federal Reserve Bank of Cleveland President Loretta Mester says Fed officials will need to raise interest rates "a little bit higher" and then hold them there for some time to bring inflation back toward their goal. Claudia Sahm, Former Federal Reserve Economist & Bloomberg Opinion Columnist, says the Fed's tools could cause a lot of pain. Gargi Chaudhuri, BlackRock Head of iShares Investment Strategy Americas calls this a "generational opportunity" for high quality income from fixed income. Michael Zeldin, Former Federal Prosecutor, discusses Donald Trump's legal troubles.

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Gregory Peters, PGIM Fixed Income Co-CIO, says central banks have to be viewed as inflation fighters in order to get rates lower over time. Neil Dutta, Renaissance Macro Research Head of US Economic Research, says the US economy is not collapsing. Barbara Reinhard, Voya Investment Management Head of Asset Allocation, says the Fed is likely first to pause and cut. Richard Haass, Council on Foreign Relations President & "The Bill of Obligations: The Ten Habits of Good Citizens" Author, discusses Finland joining NATO and the indictment of former US President Donald Trump. Stephen Pagliuca, Bain Capital Senior Advisor, discusses Bloomberg's 'Brackets for a Cause' as well as the private credit market following SVB's collapse. 

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James Bullard, St. Louis Fed President, says OPEC's decision to cut output came as a "surprise," but it's not clear what higher oil prices will mean for US monetary policy. John Ryding, Brean Capital Chief Economic Advisor, says the response to the bank turmoil has been swift and strong. Lori Calvasina, RBC Capital Markets Head of US Equity Strategy, still expects 4,100 on the S&P 500 by year-end. Ed Morse, Citi Research Global Head of Commodities, sees a "scenario" for $100 oil but says we're not "anywhere near there yet." 

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Susan Collins, Boston Fed President, says history shows the Fed must stay the course on inflation. Michael Zeldin, Former Federal Prosecutor & American University Washington College of Law Adjunct Professor, discusses former President Donald Trump's indictment. Jim Bianco, Bianco Research Founder & President, says the Fed "is not thinking pause right now" unless there is a significant slowdown in credit. Matthew Luzzetti, Deutsche Bank Chief US Economist, says inflation is still too high for the Fed's liking. Daniel Ives, Wedbush Senior Equity Analyst, says there is another 10-15% upside in tech.

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Andrew Hollenhorst, Citi Chief US Economist, says we could see a Fed funds rate as high as 5.75%. Peter Tchir, Academy Securities Head of Macro Strategy, says the Nasdaq rally has been overdone. Mayra Rodriguez Valladares, MRV Associates Managing Principal, discusses the US bank hearings. Stephen Pagliuca, Bain Capital Senior Advisor & Boston Celtics Co-Owner, says there's still plenty of opportunities in tech. Doug Kass, Seabreeze Partners President, details his view on the banking crisis and also why he moved into a market neutral position, this morning. 

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