Bloomberg Surveillance

- 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.

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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.

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- Scott Bessent, US Treasury Secretary
- Russ Koesterich, Portfolio Manager at BlackRock
- Meera Pandit, Global Market Strategist at JPMorgan Investment Management
- Seth Carpenter, Chief Global Economist at Morgan Stanley

US Treasury Secretary Scott Bessent joins to discuss the US and China will temporarily lowering tariffs on each other's products and his weekend negotiations. Russ Koesterich, Portfolio Manager at BlackRock, talks about how equities are responding positively to easing tensions between the US and China on trade. Meera Pandit, Global Market Strategist at JPMorgan Investment Management, talks about the global outlook for equities amid US-China trade negotiations. Seth Carpenter, Chief Global Economist at Morgan Stanley, talks about whether an agreement between the US and China on trade lessens the odds of a US recession.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 12th, 2025
Featuring:
1) Geoffrey Yu, Senior Strategist: EMEA at BNY, talks about the market reaction to the US-China trade agreement and why the worst-case scenarios for markets are now a thing of the past. Investors rushed back into US assets, powering a 3% surge in S&P 500 futures, after China and the US agreed to cut tariffs and de-escalate their trade war.
2) Jordan Rochester, Head: FICC Macro Strategy EMEA at Mizuho, on the "Sell America" narrative getting squeezed as the US dollar strengthens. The dollar topped a one-month high on the US-China trade talks, while gold fell more than 3% and the 10-year Treasury yield climbed five basis points to 4.42%.
3) Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, joins for an extended discussion on equity relief post-US-China trade talks and whether she expects further choppiness. Every S&P 500 sector has advanced since President Trump's April 9 pause on his harshest tariffs, with gains led by information technology, industrials, and consumer discretionary segments.
4) Huw van Steenis, Vice Chair at Oliver Wyman, on how international investors will re-balance their portfolios in reaction to US-China trade talks. Market breadth indicators, such as the 40-Week Technique Indicator and the S&P 500's cumulative advance-decline line, are signaling optimism and strength in the market, with some strategists boosting their allocation to stocks.
5) Dan Ives, Global Head: Technology at Wedbush Securities, talks about why the result from Treasury Secretary Bessent's negotiations are the "best case scenario" for tech. Nvidia, Apple, Amazon, and Tesla took off in premarket trading following the announcement on trade.

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- Peter Navarro, Senior Counselor: Trade & Manufacturing at the White House
- Alicia Levine, Head: Investment Strategy and Equities at BNY Wealth
- Sarah Bianchi, Senior Managing Director at Evercore ISI
- Dan Ives, Global Head: Technology at Wedbush Securities

Peter Navarro, Senior Counselor: Trade & Manufacturing at the White House, joins for a discussion on the US_UK trade deal and other potential trade agreements. Alicia Levine, Head: Investment Strategy and Equities at BNY Wealth, discusses the outlook for the S&P 500 and equities as the US reaches a trade deal with the UK and continues negotiations with other countries. Sarah Bianchi, Senior Managing Director at Evercore ISI, talks about the latest on US trade policy. Dan Ives, Global Head: Technology at Wedbush Securities, talks Big Tech and how US giants will continue to fare through 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 9th, 2025
Featuring:
1) Sarah Ponczek, Portfolio Manager at UBS, on company paralysis and whether market sentiment is really changing after the single trade deal with the UK. Investors nvestors are focused on the outcome of the weekend trade talks between China and the US, as the Trump administration is considering a significant tariff reduction in talks with China to ease economic pain and de-escalate tensions.
2) Shana Sissel, founder & CEO of Banrion Capital Management, brings us into the market open and talks about caution and opportunity in AI & tech. It comes as the S&P 500 briefly topped its April 2 high, led by economically-sensitive sectors, while Treasury yields surged as traders pared bets on interest-rate cuts.
3) Joanna Gallegos, co-Founder at BondBloxx, talks about why fixed income needs to be a bigger part of investor portfolios, as long as investors are precise in their pickings, and talks about risks being signaled in the bond market. The market could be pricing in de-escalation at this weekend’s US-China talks. If there’s no such positive message, global markets could be hit hard Monday.
4) Ankur Daga, CEO and founder at Angara, discusses US/India tariffs implications for the diamond market and how CEOs are strategizing amid tariff uncertainty. It comes as US Secretary Howard Lutnick mentioned a potential future tarde agreement with India, but noted that it will require a lot of work, with around 7,000 lines of tariffs to be changed or modified.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on a Soviet spacecraft falling back to Earth and Bloomberg's report on Costco monthly payment plans.Eric Mollo

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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 Professor Richard Portes.

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- Nouriel Roubini, Professor Emeritus of Economics at NYU
- Esther George, former President of the Federal Reserve Bank of Kansas City
- Kelsey Berro, Executive Director: Fixed Income at JPMorgan Investment Management
- Claudia Sahm, Chief Economist at New Century Advisors

Nouriel Roubini, Professor Emeritus of Economics at NYU, reacts to yesterday's Fed decision and explains why he believes the US economy could soon thrive. Esther George, former President of the Federal Reserve Bank of Kansas City, on Wednesday's Fed decision and whether there will be rate cuts in 2025. Kelsey Berro, Executive Director: Fixed Income at JPMorgan Investment Management, talks about the risk signals from the bond market about the US economy. Claudia Sahm, Chief Economist at New Century Advisors, reacts to yesterday's Fed decision and discusses the risks to the US labor market.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 8th, 2025
Featuring:
1) Nouriel Roubini, Professor Emeritus of Economics at NYU and chairman of Roubini Global Economics, joins to discuss the Fed decision and a recent op-ed on why he believes the US economy will survive the Trump shock and thrive. It comes as Fed Chair Jay Powell says he won't lower borrowing costs until there's more certainty on the direction of trade policy, which will have to come from the White House.
2) Ken Shinoda, Portfolio Manager at DoubleLine Capital, talks growth and inflation, signals from the bond market, and pressures in MBS market. Bond investors continue to search for clarity after Chair Powell suggested the Fed will wait for conviction on whether the next move is a cut based on the economy moving towards a recession or whether it's a move towards more restrictive policy due to high inflation becoming entrenched into the economy.
3) Richard Portes, professor at London Business School, joins in studio to talk tariffs and the dollar exchange rate, risks of a financial crisis, and a potential US-UK trade deal. The announcement is expected to boost the UK economy and markets, but investors will closely examine the extent to which Trump is willing to backtrack from his sweeping tariffs imposed on April 2.
4) Michael Nathanson, founding partner and Senior Research Analyst at Moffettnathanson, discusses his note on The Beginning of the End for Search in reaction to Apple's VP of Services comments. Apple is considering revamping Safari to focus on AI-powered search engines, potentially ending its longtime partnership with Google. Eddy Cue, Apple's senior vice president of services, believes AI search providers will eventually replace standard search engines like Google and that Apple will bring those options to Safari in the future.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on REAL ID Day and a NYT story on Agatha Christie, who died in 1976, teaching a class in AI.

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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 Chair Jerome Powell said officials are not in a hurry to adjust interest rates, adding tariffs could lead to higher inflation and unemployment. “If the large increases in tariffs that have been announced or sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and an increase in unemployment,” Powell said Wednesday at the conclusion of a two-day meeting in Washington. “The effects on inflation could be short lived, reflecting a one time shift in the price level,” he said. But it’s “also possible that the inflationary effects could instead be more persistent.”

Officials voted unanimously to keep the benchmark federal funds rate in a range of 4.25% to 4.5%, where it has been since December. In a statement, policymakers said they see a growing risk of both higher inflation and rising unemployment. “Uncertainty about the economic outlook has increased further,” the Federal Open Market Committee said in a statement. They added, “the risks of higher unemployment and higher inflation have risen.”

The S&P 500 index of US stocks and Treasury yields fell following the announcement, while the dollar pared gains.

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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 Mike Green & Frances Donald.

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- Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI
- Priya Misra, Portfolio Manager at JPMorgan Asset Management
- Keith Lerner, Co-CIO at Truist
- Tom Porcelli, Chief US Economist at PGIM Fixed Income

Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, joins for a look at equities and gives his S&P 500 target as investors continue to look for clarity on trade deals. Priya Misra, Portfolio Manager at JPMorgan Asset Management, discusses signals from the bond market on the outlook for inflation and slower growth. Keith Lerner, Co-CIO at Truist, offers his outlook on equities and markets. Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses inflation, the US economy, and today's Fed meeting.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 7th, 2025
Featuring:
1) Mike Green, Chief Strategist at Simplify Asset Management, joins for an extended discussion on the outlook for equities, what's behind the jobs report figures, the "ETF-ification" of the market, and talks about why he believes the "obsession" with inflation is overblown. US stock futures rose and the dollar gained as China and the US prepared to hold their first confirmed trade talks since President Trump unleashed his global tariff war.
2) Christel Rendu de Lint, co-CEO at Vontobel Asset Management, joins to discuss the global economic outlook amid the tariff environment and favorable asset classes post-tariff announcement. With China and the US preparing for trade talks, the meeting will focus on de-escalation rather than reaching a deal, and Treasury Secretary Scott Bessent said the current tariff rates aren’t sustainable.
3) Frances Donald, Chief Economist at RBC Capital Markets, on slower growth and higher prices in the US economy. The Federal Reserve’s meeting on Wednesday is next up for investors, with traders looking for clues on how soon the central bank could embark on policy easing and how deep the rate-cutting cycle might be.
4) Vishal Khanduja, Head of Broad Markets Fixed Income at Morgan Stanley Investment Management, on why today's Fed meeting won't be about a rate move, but decoding the Powell puzzle. US Treasuries slipped ahead of the Federal Reserve's interest-rate decision, with investors betting on a slower pace of monetary easing due to data suggesting economic resilience. The Fed's decision and comments from Chair Jay Powell to be closely scrutinized for insight into officials' interpretation of recent data.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on high-schoolers with $70,000-a-year job offers and the FT's story on sandals in the workplace.Eric Mollo

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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 Torsten Slok & Jeffrey Rosenberg.

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- Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods
- French Hill, Republican US House Representative: Arkansas
- Jonathan Pingle, Chief US Economist at UBS
- Jason Bazinet, Global Head: EMT Sector at Citi

Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, joins to discuss how equities are faring ahead of this week's Fed decision and how Chair Jay Powell's comments could shape the direction of the market. French Hill, Republican US House Representative: Arkansas, talks about his role as Chairman of the Financial Services Committee and Congressional priorities heading into the summer. Jonathan Pingle, Chief US Economist at UBS, talks about the outlook for the US economy and inflation amid uncertain tariff policy. Jason Bazinet, Global Head: EMT Sector at Citi, talks about President Trump's proposed tariffs on the film industry.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 6th, 2025
Featuring:
1) Torsten Slok, Chief Economist at Apollo, joins for an extended discussion on tariffs, the outlook for the US economy, a potential recession in 2025, and this week's Fed meeting. Global stocks fell today due to concerns about the trade war's impact on companies and the world economy. Recent optimism fueled by US trade concessions is fading, and markets are bracing for an economic slowdown, with investors reducing exposure to the US and expecting fewer Federal Reserve interest-rate cuts.
2) Jeffrey Rosenberg, Portfolio Manager: Systematic Multi-Strategy Fund at BlackRock, offers his outlook for the US economy, signals from the bond market, and long/short strategies as investors weigh how to play stocks and bonds. Investors are coming around to the view that the Fed won’t cut interest rates as early or as deeply as earlier anticipated. While it’s expected to leave interest rates on hold this week, money markets have pushed back the timing of the first reduction to July and see three cuts by year-end, rather than the four they had expected a week ago.
3) Joe Mazzola, Head Trading and Derivatives Strategist at Charles Schwab, talks about client activity, where investors are playing risk in markets, and what concerns they're expressing amid growing economic uncertainty. While the spot VIX index has fallen to near where it was before stocks slumped on tariff fears in early April, the VIX futures curve is signaling concerns that the market turbulence may return.
4) Zohran Mamdani, NYC Mayoral Candidate and NYC assemblyman, discusses his candidacy for mayor, his proposed policies, and whether Democratic Socialists like him are a key piece of the future of the national Democratic platform. According to one Democrat - NY House Rep. Pat Ryan - Democrats must take more risks to counter the GOP power trifecta successfully or they could face an extended stint on the sidelines.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including reports on the fashion and fundraising from the Met Gala and a WSJ exclusive on the Trump administration holding schools responsible for students paying back their loans.

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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 Ian Lyngen & Robert Schiffman.

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- James Bullard, Dean of the Purdue Business School and former St. Louis Fed President
- Chris Harvey, Head: Equity Strategy at Wells Fargo
- Kate Kalutkiewicz, Senior Managing Director at McLarty Associates
- Erin McLaughlin, Senior Economist at The Conference Board

James Bullard, the Dean of the Purdue Business School and former President of the Federal Reserve Bank of St. Louis previews this week's Fed decision and discusses the outlook for interest rates amid tariff uncertainty. Chris Harvey, Head: Equity Strategy at Wells Fargo, discusses his S&P target and talks about whether the rally in equities has long-term potential. Kate Kalutkiewicz, Senior Managing Director at McLarty Associates, discusses the latest on global trade deals and where the US could make progress with allies and foes. Erin McLaughlin, Senior Economist at The Conference Board, talks about recent eco data and how it will affect this week's Fed decision.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 5th, 2025
Featuring:
1) Ian Lyngen, Head: US Rates Strategy at BMO Capital Market, talks about the 10-year outlook and if Treasury Secretary Bessent's sub-4% target is in the cards following last week's inflation reading. President Trump seized on strong job growth to pressure Fed Chair Jay Powell to cut interest rates, but bond traders concluded the opposite, dialing back rate-cut bets.
2) Alicia Levine, Head of Investment Strategy and Equities, BNY Wealth, brings us into the market open and discusses her S&P outlook and why she's downgrading risk in her portfolio. Financial markets have steadied in the past two weeks as Trump dialed back his tariffs amid signs that trade talks are progressing, and the S&P's looking to extended its longest winning streak in 2 decades.
3) Dana Telsey, Chief Research Officer at Telsey Advisory Group, joins for a Big Picture look at the consumer and where tariffs could hamper their spending. It comes as University of Michigan US consumer sentiment has fallen to one of its lowest points on record amid tariff, inflation, and price uncertainty.
4) Henrietta Treyz, co-founder at Veda Partners, takes a look at DC headlines, talks Congressional priorities heading into the summer, and discusses her note "It's Beginning to Look a lot like COVID." President Trump's 2026 budget request outlines deep cuts to domestic agencies, including a 22.6% cut in spending for the 2025 fiscal year, and significant reductions to environmental and renewable energy programs, early childhood education, and foreign aid.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on Corporate America leaving more jobs unfilled and Bloomberg's analysis of how tariffs will impact Hollywood.

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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 Claudia Sahm & Adam Posen.

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- Stephen Miran, Chairman of the White House Council of Economic Advisers
- Jeffrey Rosenberg, Portfolio Manager: Systematic Multi-Strategy Fund at BlackRock
- Stephanie Roth, Chief Economist at Wolfe Research
- Ed Mills, Washington Policy Analyst at Raymond James

Stephen Miran, Chairman of the White House Council of Economic Advisers, joins to discuss how the White House is reacting to the April jobs report. Jeffrey Rosenberg, Portfolio Manager: Systematic Multi-Strategy Fund at BlackRock and Stephanie Roth, Chief Economist at Wolfe Research offer their analysis of April nonfarm payrolls. Ed Mills, Washington Policy Analyst at Raymond James, discusses the latest on President Trump's tariff policy and other economic policy initiatives.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 2nd, 2025
Featuring:
1) Claudia Sahm, Chief Economist at New Century Advisors, Sarah Wolfe, Senior Economist at Morgan Stanley, Sarah Hunt, Chief Markets Strategist at Alpine Woods Capital Investors, and Kristina Campmany, Senior Portfolio Manager at Invesco, react to the April jobs figures. The S&P 500 has notched eight consecutive days of gains, its longest run since August, amid increased optimism that trade tensions are waning, but many strategists feel a market bull run will be driven by strong economic data.
2) Gene Seroka, CEO of the Port of LA, joins for a discussion on how tariffs on China are affecting port traffic and what it could mean for the US economy. In March, Seroka predicted a possible 10% volume decline in the second half of this year due to substantial inventory and tariff uncertainty. Port data continues to be of interest to economists and market watchers.
3) Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, wraps big tech earnings. Tech earnings and expectations of trade deals drove optimism in the markets, with investors awaiting the US jobs report on Friday, the last significant data release this week.
4) Adam Posen, President of the Peterson Institute for International Economics, talks about his Foreign Affairs piece on why trade wars are easy to lose. Still, market sentiment has remained upbeat due to reports of the US reaching out to China for tariff talks, causing the dollar index to climb and Treasury yields to rise.
5) Constance Hunter, Chief Economist at EIU, brings us into the market open and discusses whether the US has stepped too far into the trade war and whether a recession is inevitable. While Wall Street's risk appetite has increased due to strong tech earnings - causing the S&P 500 to rise for eight consecutive days - it's unclear where trade deals with China and other partners will end up.

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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 Dan Ives & Gene Munster.

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- Binky Chadha, Chief US Equity & Global Strategist at Deutsche Bank
- Brian Gardner, Chief Washington Policy Strategist at Stifel
- Dan Ives, Global Head: Technology at Wedbush Securities
- Ian Lyngen, Head: US Rates Strategy at BMO Capital Markets

Binky Chadha, Chief US Equity & Global Strategist at Deutsche Bank, discusses his most recent S&P 500 target and his outlook for US equities amid continued uncertainty over US tariffs. Brian Gardner, Chief Washington Policy Strategist at Stifel, talks about the Trump admin's economic policies and flexibility in pivoting and adjusting its approach to tariffs. Dan Ives, Global Head: Technology at Wedbush Securities, discusses Big Tech earnings, previews Apple, and talks Tesla leadership. Ian Lyngen, Head: US Rates Strategy at BMO Capital Markets, talks about the outlook for the 10-year yield and whether Treasuries are set to fall.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 1st, 2025
Featuring:
1) Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, joins to talk "calm(er)" markets, labor data, and Investing Day. In the premarket, US equity futures rallied on stronger-than-expected tech earnings and relief over signs the Trump administration is stepping back from its harshest tariff threats. Tech giants added to investor optimism that deals between the US and its partners would limit the damage from President Donald Trump’s trade war, and traders boosted bets on Fed easing later this year.
2) Dan Ives, Global Head: Technology at Wedbush Securities, joins to talk big tech earnings and Tesla leadership. Tesla Chair Robyn Denholm denied a report that the board was looking to replace CEO Elon Musk, saying directors are "highly confident" in his ability. The denial came after a Wall Street Journal report that Tesla board members had contacted executive search firms to find a successor to Musk earlier this year.
3) Leland Miller, CEO at China Beige Book, joins to talk about his latest China data release, Trump's China tariffs play, and the president's willingness to pivot. President Trump acknowledged that his tariff program had a perception problem and posed a significant political risk, but he remained determined to push on. Trump stated that there was a "very good chance" he would strike a deal with China, but only "on our terms" and if it's "fair".
4) Brad Lander, NYC Comptroller & Mayoral Candidate, joins to discuss his NYC mayoral campaign, congestion pricing, Trump's tariffs, and other city issues.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on how AI is helping job seekers pivot to new careers and another story on a Sam Altman-Backed startup rolling out eyeball-scanning tech across the US.

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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 Jim Caron & Peter Tchir.

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- Max Kettner, Chief Multi-Asset Strategist at HSBC
- Ryan Petersen, Chairman, CEO, and founder of Flexport
- Christopher Hughes, co-founder of Facebook
- Eric Rosengren, Former President of the Federal Reserve Bank of Boston

Max Kettner, Chief Multi-Asset Strategist at HSBC, looks ahead to this week's jobs report and other economic data soon-to-be-released, and whether he sees investors having to weather a recession in 2025. Ryan Petersen, Chairman, CEO, and founder of Flexport, discusses supply chain constraints and navigating the trade war. Christopher Hughes, co-founder of Facebook, discusses the company and Big Tech ahead of Meta earnings. Eric Rosengren, Former President of the Federal Reserve Bank of Boston, discusses his outlook for the US economy and interest rates and talks Fed independence.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 30th, 2025
Featuring:
1) Amanda Lynam, Head of Macro Credit Research at Blackrock, joins for an extended discussion on her weekly global credit report and discusses corporate credit spreads and signals from the bond market. Uncertainty continues to be the main theme across the investing world. Veteran emerging-markets investor Mark Mobius said he’s keeping 95% of his funds’ holdings in cash as he waits out the trade-related uncertainty. Hedge funds are reluctant to make major bets amid the turmoil, with the only significant shift in positioning in April being increased bets against US stocks, Bloomberg reported.
2) Jim Caron, CIO of Cross Asset Solutions at Morgan Stanley Investment Management, talks about whether the dollar and US treasuries are still safe havens and how he tries to contextualize that discussion. In a broader look at the economy, real GDP likely slowed to a standstill in the first quarter as President Trump’s policy shifts disrupted activity, according to Bloomberg economists.
3) George Goncalves, Head of US Macro Strategy at MUFG Securities Americas, joins to discuss economic fundamentals and incoming eco data and how that, possibly more than policy, will shape markets in the coming months. Stock drifted in early trading as investors await a busy day of earnings and macro data on the final session of an exhausting month. Mag 7 results, GDP and inflation numbers are potential catalysts for market direction.
4) Sinjin Bowron, High Yield Bond and Senior Bank Loan Portfolio Manager at Beach Point Capital, discusses leveraged credit markets, opportunities and challenges amid widening uncertainty, and other signals from the bond market. US Treasuries held recent gains as traders awaited data on inflation and economic growth, as well as the debt management team's plans for sales in the $29 trillion market.
5) Callie Cox, Chief Market Strategist at Ritholtz Wealth Management, brings us into the market open and talks about allocating and staying the course in a slowing economy. Economic data due this week includes inflation and gross-domestic-product data, which will provide a snapshot of US economic activity before President Trump's trade policy shifts.

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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 Elizabeth Economy & Ethan Harris.

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- Savita Subramanian, Head: US Equity & Quantitative Strategy at Bank of America
- Collin Martin, Fixed Income Strategist at Charles Schwab
- Kathy Bostjancic Chief Economist at Nationwide
- Stephanie Roth, Chief Economist at Wolfe Research

Savita Subramanian, Head: US Equity & Quantitative Strategy at Bank of America, joins to discuss the outlook for US equities and whether fundamentals are still in place for a bull run. Collin Martin, Fixed Income Strategist at Charles Schwab, discusses signals from the bond market and outlook for Treasuries. Kathy Bostjancic, Chief Economist at Nationwide, and Stephanie Roth, Chief Economist at Wolfe Research, preview this week's jobs report and talk about the outlook for the US economy and eco data in the US.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 29th, 2025
Featuring:
1) Russ Koesterich, Global Head of Investment Strategy for BlackRock Scientific Active Equities, joins for a discussion on near term volatility in stocks and whether the bull run in international stocks is set to slow. Investors are tracking a stream of data for clues on the health of the American economy and prospects for Federal Reserve interest-rate cuts, with some experts warning of the risk of recession in the US. Tariffs continued to dominate headlines, with Treasury Secretary Scott Bessent saying the US has put China to the side for now as it seeks trade deals with 15 to 17 other countries.
2) Elizabeth Economy, Hargrove senior fellow and co-director of the U.S., China and the world program at the Hoover Institution at Stanford University, joins for a discussion on US-China relations and who has the upper hand in a trade war. Chinese Foreign Minister Wang Yi warned countries against giving in to US tariff threats, saying it would only embolden the "bully". Wang's remarks came as the Trump administration hinted at using new trade tools to pressure Beijing, and US Treasury Secretary Scott Bessent suggested banning certain exports to China to gain leverage.
3) Ethan Harris, former Head of Research at Bank of America, talks about a potential golden age for the US economy and what a post-Powell Federal Reserve would look like. Currently, Fed Chair Jay Powell is trying to prevent price increases from spreading through the economy due to Donald Trump's tariffs, earning him the nickname "Mr. Too Late" from the president. The Fed is expected to leave rates unchanged at their next meeting, and Powell has emphasized the need to keep longer-term inflation expectations anchored to prevent a one-time price increase from becoming an ongoing inflation problem.
4) Dr. David Dodge, former Governor of the Central Bank of Canada, joins to discuss Mark Carney's victory in the Canadian election. Canada's Liberal Party, led by Carney, is projected to win a fourth consecutive election, but with a narrow margin of victory. Carney's win represents a major turnaround for the Liberals, and he has pledged to focus on strengthening Canada's economic independence and standing up to US President Trump in a trade war.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Fortune's story on a harsh new reality when it comes to groceries and inflation and Business Insider's look at how a Chinese mobile dating game is getting single women across Asia to open their hearts and wallets.

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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 Robert Kaplan & Stephanie Roth.

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- Neil Dutta, Head: US Economic Research at Renaissance Macro
- Kelly Ann Shaw, Partner at Hogan Lovells US
- Abigail Yoder, Strategist: US Equity at JPMorgan
- Amanda Lynam, Head: Macro Credit Research at BlackRock

Neil Dutta, Head: US Economic Research at Renaissance Macro, joins to discuss whether he's becoming more bullish on the US economy or whether he believes data indicates an incoming slowdown. Kelly Ann Shaw, Partner at Hogan Lovells US, discusses the latest on President Trump's trade negotiations and what potential trade deals could look like at this stage. Abigail Yoder, Strategist: US Equity at JPMorgan, looks ahead to this week's earnings and whether they could provide a boon for equities. Amanda Lynam, Head: Macro Credit Research at BlackRock, discusses spreads in corporate bonds and what the bond market is indicating about the US economic backdrop.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 28th, 2025
Featuring:
1) Robert Kaplan, Vice Chairman at Goldman Sachs and former Dallas Fed president, joins for a discussion about structural changes in the US economy, the incoming Fed decision and jobs day, and Fed independence. Sources say Federal Reserve Chair Jay Powell recently delivered an impassioned defense of central bank independence when he addressed policymakers and finance ministers during a meeting at the International Monetary Fund, which reportedly drew applause.
2) Stephanie Roth, Chief Economist at Wolfe Research, talks about Wolfe's lower-than-consensus NFP call for this week and her expectations for China tariffs. In addition to eco data and trade deals, key company reports this week will be scrutinized for the earnings impact of US trade policies, and fresh readings on the American economy may support hopes of earlier-than-expected Federal Reserve interest-rate cuts.
3) Henrietta Treyz, co-founder at Veda Partners, joins for a discussion on how Trump's recent poor polling could make his priorities harder to implement, and why Republicans passing their signature tax bill isn't a given. Voter discontent with President Trump's economic stewardship is sinking his popularity as he approaches the 100-day mark of his second term. Republicans aim to pass Trump's tax plan through a process that wouldn't require Democratic votes, but voter angst and the threat of a recession in the next year could make it challenging for Trump to get everything he wants.
4) Joe Lavorgna, Chief Economist at SMBC Nikko Securities, brings us into the market open and talks about President Trump's tariff policy and whether he believes trade negotiations are on the right track. Investors are watching for signs of progress in US trade negotiations, with the Trump administration working on bilateral trade deals with 17 key partners and drafting a framework to handle negotiations with about 18 countries.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a story from the Wall Street Journal on athletes using Ozempic and Business Insider reporting on chick sales amid rising egg prices.

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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 Matt Hornbach and Tim Adams.

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- Jason Thomas, Head: Global Research & Investment Strategy at the Carlyle Group
- Adewale Adeyemo, Former Deputy Secretary at the US Treasury Department
- Adena Friedman, Chair and CEO of Nasdaq Inc.
- Nathan Sheets, Managing Director: Citi Research

We are broadcasting from Washington as the IMF Spring Meetings come to a close. Jason Thomas, Head: Global Research & Investment Strategy at the Carlyle Group, joins for a discussion on the outlook for the US equity market as trade negotiations continue. Adewale Adeyemo, Former Deputy Secretary at the US Treasury Department, discusses recent market gyrations and what the Treasury is capable of doing to help support the economy. Adena Friedman, Chair and CEO of Nasdaq, talks about recent earnings and the IPO outlook. Nathan Sheets, Managing Director: Citi Research, offers his market outlook for 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 25th, 2025
Featuring:
1) Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, joins for an extended discussion on the bond market, the Fed, and outlook for markets. The dollar strengthened in early trading, while the yen and Swiss franc retreated, as investor demand for non-US haven assets waned amid signs of progress in the White House's engagement with major trading partners.
2) Tim Adams, CEO for the Institute of International Finance, joins for an extended discussion on his talks with US Treasury Secretary Scott Bessent this week and conversations from the IMF. Bessent called for a course correction for the International Monetary Fund and World Bank, saying they serve "critical roles" and the Trump administration is willing to work with them.
3) Meghan Graper, Global Head: Debt Capital Markets at Barclays Capital, talks about the bright side of so much uncertainty: investment grade credit. Currently, markets favor a quarter-point cut in June and a total of three such reductions by year-end, with some experts predicting slow and bumpy progress in US-China relations but possible net positive newsflow via trade deal announcements.
4) Leslie Palti-Guzman, founder at Energy Vista, talks about the liquid natural gas (LNG) being used as a key strategic favor and retaliation in tariff and trade negotiations.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ Story on why baby strollers are getting hit the hardest by China tariffs and the New York Times report on ChatGPT costs.

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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 Daniel Tannebaum & Anna Wong.

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- Ed Yardeni, President at Yardeni Research
- Nicolai Tangen, CEO of Norges Bank Investment Management
- Philip Lane, Chief Economist at ECB
- Jenny Johnson, CEO of Franklin Templeton Investments

Ed Yardeni, President at Yardeni Research, discusses his equity outlook, whether he's revising his S&P 500 target as tariffs continue to be negotiated, and if he believes the US will enter a recession. Nicolai Tangen, CEO of Norges Bank Investment Management, discusses the global economic outlook as globalization and US tariffs reshape global investing. Philip Lane, Chief Economist at ECB, joins to talk about whether investors are turning bullish on Europe despite trade uncertainty with the US. Jenny Johnson, CEO of Franklin Templeton Investments, discusses asset allocation as the investing and business environment remains highly uncertain and volatile.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 24th, 2025
Featuring:
1) Jean Boivin, Head of the BlackRock Investment Institute, joins for an extended discussion on the global economic transformation and how US trade policy is just one piece of the broader geopolitical global economic transformation. As China calls on the US to revoke unilateral tariffs, the country warns of the threat of ongoing frictions to trust in the global economic system and emphasize the need for cooperation to prevent the global economy from sliding into a track of "high friction, low trust".
2) Brian Kingston, President & CEO at the Canadian Vehicle Manufacturers’ Association, discusses how President Trump's tariffs will affect Canadian manufacturing, whether a leadership change in Canada will help, and how it could all change if the president backs off on 25% tariffs on car parts. The Financial Times is reporting that rump plans to spare carmakers from some of his most onerous tariffs.
3) Daniel Tannebaum, Partner at Oliver Wyman, joins from the IMF Spring Meetings in DC to discuss what he's hearing about tariffs and developments in a Ukraine-Russia deal. It comes as President Trump is pressuring Ukrainian President Zelenskiy to accept a peace deal, accusing him of prolonging the war, and says he hopes to meet with Russian President Putin soon. The US has proposed a deal that would effectively freeze the conflict, acknowledge Russia's occupation of Crimea, and ease sanctions on Moscow, but Ukraine and Europe want assurances of a ceasefire and security guarantees before any agreement.
4) Tina Fordham, founder at Fordham Global Foresight, discusses the geopolitical outlook amid an entirely unclear trade war and how policy is shaping markets, or vice versa. Many experts and leaders have called for policy certainty, with Citadel founder Ken Griffin most recently saying President Trump's trade war has derailed business leaders' plans to focus on growth for the next four years.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insider report on Costco shoppers cashing in on company rewards and a WSJ report on college graduates facing a tough job market.

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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 Gina Martin Adams & Huw van Steenis.

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- Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI
- Joachim Nagel, President at Deutsche Bundesbank
- Torsten Slok, Chief Economist at Apollo Management
- Dan Ives, Head Global Technology at Wedbush Securities

Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, offers his S&P 500 outlook amid further uncertainty about tariffs and corporate earnings. Joachim Nagel, President at Deutsche Bundesbank, joins from the IMF Spring Meetings to talk about the outlook for European and global economies as the US levies global tariffs. Torsten Slok, Chief Economist at Apollo Management, talks about the outlook for a US recession this year. Dan Ives, Head Global Technology at Wedbush Securities, breaks down Tesla earnings.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 23rd, 2025
Featuring:
1) Huw van Steenis, Vice Chair at Oliver Wyman, joins in studio for an extended discussion on Nixonian elements of Trump admin, global corporate and business confidence, and how it's all intersecting with what he sees in the financial and banking sectors. Markets and the economy are facing increased uncertainty, with President Trump most recently saying he has no intention of firing Federal Reserve Chair Jerome Powell, despite his frustration with the central bank not moving more quickly to slash interest rates. Trump wants Powell to lower interest rates, saying it's a "perfect time" to do so, and would like to see the chairman be "early or on time, as opposed to late".
2) Dan Ives, Global Head: Technology at Wedbush Securities, breaks down Tesla earnings. CEO Elon Musk says he will devote more time to Tesla starting next month, scaling back his work with the US government, which has been a concern for investors. Tesla's stock jumped 7% despite missing analysts' estimates for revenue and earnings, with the company citing weakness in its core automotive business and tariff headwinds.
3) Chris Grisanti, Chief Equity Strategist at MAI Capital Management, brings us into the market open and what lower corporate earnings will mean for equities. Stocks and bonds rose as global markets reacted positively to the Trump administration's easing of tensions, including President Trump's statement that he has no intention of firing Federal Reserve Chair Jerome Powell.
4) Mick Mulroy, co-founder of the Lobo Institute, joins to discuss turmoil at the Defense Department. Defense Secretary Pete Hegseth has been courting controversy, including sharing sensitive details about an impending US attack on Houthi militants on an unsecured commercial chat platform and purging some of his handpicked staff. Despite calls for Hegseth to be fired, President Donald Trump remains supportive, attributing the controversies to "disgruntled employees" and saying Hegseth is "doing a great job."
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including WSJ's story on fashion in Little League and Bloomberg's report on the hottest amenity at US airports.

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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 Jeff deGraaf & Brian Belski.

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- Krishna Guha, Vice Chariman at Evercore ISI
- Rob Sockin, Director: Research at Citi
- Bill Dudley, Bloomberg Opinion columnist and former NY Fed President
- Alex Nowrasteh, VP: Economic & Social Policy Studies at The Cato Institute

Krishna Guha, Vice Chariman at Evercore ISI, offers his outlook for markets and the US economy amid a brutal April for markets. Rob Sockin, Director: Research at Citi, discusses the risks to markets both from President Trump's tariff policy and should the president fire Fed Chair Jay Powell. Bill Dudley, Bloomberg Opinion columnist and former NY Fed President, discusses Fed independence, tariffs, and the outlook for the US economy. Alex Nowrasteh, VP: Economic & Social Policy Studies at The Cato Institute, talks about the future of Fed independence and Chair Jay Powell.

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Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney April 22nd, 2025
Featuring:
1) Jeff deGraaf, Chairman and Head: Technical Research at Renaissance Macro Research, joins for a discussion on Jay Powell, market risks, and tariffs. US stocks were higher in futures trading this morning as equities are set to bounce back from Monday's losses as investors weigh progress on trade talks with India and Tesla's upcoming earnings.
2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, brings us into the market open and discusses whether he remains a US equity bull. President Trump's demands on Jerome Powell to cut rates have raised concerns about the president's willingness to meddle with central bank policy and the impact on the economy.
3) Alicia Garcia-Herrero, Chief Economist for Asia Pacific at Natixis, joins for a discussion on the dollar as the globe's reserve currency and how the trade war will harm China and the US. This morning, gold topped $3,500 for the first time, and other markets such as stocks, currencies, and commodities experienced mixed movements amid ongoing trade tensions and uncertainty.
4) Warwick McKibbin, non resident Senior Fellow at the Peterson Institute for International Economics, talks about his piece from the fall outlining the costs of Trump's tariff and deportation policies as well as his newest analysis released today on the US revenue implications of Trump's tariff plan.
5) Margaret Franklin, CEO of the CFA Institute, joins from our DC studio to discuss the CFA program, how it's evolving, and the impact of AI on the investing profession.
6) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Financial Times report on the marketing campaign of plant-based eggs and the Washington Post's look into the changing economics of college football and how it's affecting the NFL draft.

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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 Liz Ann Sonders & Damian Sassower.

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- Cam Dawson, CIO at NewEdge Wealth
- Terry Haines, founder at Pangaea Policy
- Leland Miller, CEO at China Beige Book
- Barbara Doran, CEO and CIO at BD8 Capital Partners

Cam Dawson, CIO at NewEdge Wealth, joins for a discussion on her 2025 outlook and whether equities could rebound amid volatility in the first quarter of the year. Terry Haines, founder at Pangaea Policy, discusses President Trump's tariff policies and turmoil for Defense Secretary Pete Hegseth and the Defense Department. Leland Miller, CEO at China Beige Book, discusses the outlook for the Chinese economy in an intensifying trade war with the US. Barbara Doran, CEO and CIO at BD8 Capital Partners, discusses the outlook for markets amid comments from President Trump for a desired change at the Fed.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 21st, 2025
Featuring:
1) Julia Coronado, President/Founder of Macropolicy Perspectives, joins to discuss the precarious position the Fed is put in amid incoming tariffs and the possibility of higher inflation, and when or if Jay Powell will cut rates this year. The dollar weakened sharply as traders reacted to the possibility that President Donald Trump will try to remove Federal Reserve Chairman Jerome Powell.
2) Meghan Clark, professor at St. John's University, talks about the death of Pope Francis. He encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy. He was 88, and passed away 7:35 a.m. Monday in Rome, the Vatican said in a statement. He had been hospitalized in Rome in mid-February with bronchitis, which progressed to pneumonia in both lungs — the last in a litany of respiratory and other medical challenges he had faced. On Sunday, he had met with US Vice President JD Vance.
3) Gautam Mukunda, Bloomberg Opinion contributor and Yale School of Management professor, joins for a discussion on politics and the forces pushing back or accepting certain norms being challenged by the Trump administration. President Trump is continuing his calls for a change at the head of the Fed, and there's growing pressure on US Defense Secretary Pete Hegseth amid reports of turmoil at the Pentagon.
4) Drew Matus, Chief Market Strategist at Metlife Investment Management, brings us into the market open and discusses the prospect of a recession as the US enters "trade war hell."
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including The Boston Globe looking into the best places to eat along the route of the Boston Marathon and Business Insider's story on men are getting cosmetic treatments and anti-aging procedures.

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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 Amanda Lynam & Anastasia Amoroso.

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- Mohamed El-Erian, President of Queens' College, Cambridge
- Kelly Ann Shaw, Partner at Hogan Lovells US
- Jean Boivin, Global Head: Research & Investment Institute at BlackRock
- Lauren Goodwin, Chief Market Strategist at New York Life Investment Management

Mohamed El-Erian, President of Queens' College, Cambridge and Bloomberg Opinion columnist and Jean Boivin, Global Head: Research & Investment Institute at BlackRock, discuss the outlook for stocks and US economic growth, as well as concerns signaled from the bond market. Kelly Ann Shaw, Partner at Hogan Lovells US, discusses President Trump's political and economic priorities as tariff negotiations continue. Lauren Goodwin, Chief Market Strategist at New York Life Investment Management, offers her outlook for stocks and the US economy.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 17th, 2025
Featuring:
1) Amanda Lynam, Head of Macro Credit Research at Blackrock, talks about signals from the bond market, corporate credit spreads, and whether the market just experienced a tariff tantrum or whether deeper problems lie underneath. Following bond market turmoil triggered by the announcement of broad US levies earlier this month, investors are focusing more on developments in country-specific trade negotiations.
2) Anastasia Amoroso, Chief Investment Strategist at iCapital, brings us into the market open and discusses her outlook for growth in equities and the US economy. President Donald Trump said there was “big progress” in talks to strike a deal for Japan, which stocks responded to positively in pre-market trading ahead of the holiday weekend.
3) Jay Timmons, CEO and President of National Association of Manufacturers, joins to discuss manufacturing regulations and red tape, strengthening the manufacturing workforce, and whether tariffs and other Trump admin policies could actually revitalize manufacturing labor. Manufacturing output increased 5.1% in the first quarter, the most since late 2021, as customers boosted orders before tariffs hikes took effect. Despite the gain, manufacturing faces headwinds from higher material costs, trade policy uncertainty, and tariffs, which may impact production and investment plans this year and next year.
4) Ali Mortell, Director of Research at Blue Rose Research, joins to discuss Blue Rose's presentation that's made waves through Democratic politics, highlighting support President Trump garnered in 2024, how Democrats could claw back some voters, and what is the identity of the Democratic party.
5) Whitney Tilson, former hedge fund manager and NYC Mayoral candidate, discusses his candidacy and policy proposals, how he plans to gain support over Cuomo and Adams, and what the identity of the Democratic party should be. Billionaire hedge fund manager Bill Ackman donated $250,000 to a super PAC supporting former New York Governor Andrew Cuomo in New York City's mayoral race after Ackman hosted a fundraiser for Tilson's bid earlier this year.
6) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story Costco's Kirkland brand bringing customers to the beer aisle and a New York Times report on possible signs of life on a distant planet.

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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 Dan Ives & Matt King.

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- Alicia Levine, Head of Investment Strategy and Equities at BNY Wealth
- Rick Rieder, CIO: Global Fixed Income at BlackRock
- Eric Cantor, Vice Chairman at Moelis & Co
- John Kirby, CEO at United Airlines

Alicia Levine, Head of Investment Strategy and Equities at BNY Wealth, discusses her outlook for equities and whether she believes they'll end the year in positive territory amid tariff policy uncertainty. Rick Rieder, CIO: Global Fixed Income at BlackRock, discusses warning signals from the bond market. Eric Cantor, Vice Chairman at Moelis & Co, talks about President Trump's economic policies and how economic and political policies will be shaped in Washington in the coming months. John Kirby, CEO at United Airlines, discusses his company and the state of the industry.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 16th, 2025
Featuring:
1) Wei Li, Global Chief Investment Strategist at BlackRock, joins for an extended discussion on the market backdrop amid the US tariff pause and the near- and long-term risks of a financial accident. Investors get hints of economic sentiment today with Federal Reserve Chair Jerome Powell giving a speech in Chicago and the release of March retail sales today.
2) Dan Ives, Global Head of Technology at Wedbush Securities, on the Nvidia chip restrictions. Technology stocks fell due to new US government restrictions on Nvidia chip exports to China and a disappointing report from ASML Holding NV, wiping out $155 billion in market value.
3) Matt King, founder at Satori Insights, brings us into retail sales and talks about why the US could be on the cusp of a crisis. The fallout of US Nvidia chip curbs are one factor affecting growth: it could weigh on chip-sector earnings and set back China's ambitions to compete on the global tech stage, with economists scaling back their forecasts for GDP growth worldwide.
4) Rebecca Patterson, former Chief Investment Strategist at Bridgewater Associates, joins for an extended discussion on the US dollar, Treasuries, and US exceptionalism. The demand dynamic for US Treasuries is shifting, with foreign demand declining, and the relationship between the US dollar and Treasury yields is weakening, leading to concerns about the dollar's haven status and the US deficit.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Bloomberg story on the boom in ultra-luxury ships and WalletHub's findings on cities with the most affordable rent.

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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 Jurrien Timmer & Constance Hunter.

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- Glenn Youngkin, Governor of Virginia
- Priya Misra, Portfolio Manager at JPMorgan Asset Management
- Terry Haines, founder at Pangaea Policy
- Ken Leon, Director of Equity Research at CFRA

Republican Virginia Governor Glenn Youngkin sits down with Surveillance to discuss his policy initiatives for the state, how the Republican party is functioning in a second Trump term, and his response to the president's economic and political priorities. Priya Misra, Portfolio Manager at JPMorgan Asset Management, discusses signals from the bond market and whether there is broader concern of a rotation away from US assets. Terry Haines, founder at Pangaea Policy, discusses whether President Trump's tariff policy could change amid its 90-day pause. Ken Leon, Director of Equity Research at CFRA, reacts to today's bank earnings.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 15th, 2025
Featuring:
1) Constance Hunter, Chief Economist at EIU, talks about whether the US is staring down a financial crisis as President Trump negotiates trade deals with other countries. While stocks are getting a boost as President Trump floats a potential pause in auto tariffs, ongoing trade tensions and concerns remain about the impact of tariffs on the economy.
2) Christopher Maher, CEO of OceanFirst Bank, discusses how inflation and tariffs are affecting how he operates his business and how clients are responding to changing conditions. Investor sentiment toward the economy is the most negative in three decades, with fund managers expecting the global economy to weaken and planning to reduce exposure to US equities, which is causing increasing challenges for business operators.
3) Sebastien Page, head of Global Multi-Asset and Chair of the Asset Allocation Steering Committee at T. Rowe Price, talks about his new book and demonstrating leadership in a growing uncertain market. Markets are showing signs of consolidating as Trump’s tariff exemptions haved raised hopes there may be room for negotiations after the president’s reciprocal levies this month wiped $10 trillion off global equities and spurred a rout in Treasuries. At the same time, the US is pressing forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating trade probes led by the Commerce Department.
4) Scott Stringer, Former NYC Comptroller & NYC Mayoral Candidate, joins as part of our NYC mayoral race coverage to discuss New York City, Mayor Eric Adams' leadership, city finances, congestion pricing, and other issues.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ report on Netflix's market cap target and Business Insider's story on iPhone tricks to avoid increased costs.

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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 & Lori Calvasina.

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- Peter Tchir, Head: Macro Strategy at Academy Securities
- Nela Richardson, Chief Economist at ADP
- Henrietta Treyz, co-founder and Managing Partner at Veda Partners
- David Ellison, Portfolio Manager at Hennessy Funds

Peter Tchir, Head: Macro Strategy at Academy Securities and ADP's Nela Richardson discuss the outlook for equities and potential for further market volatility amid uncertain tariff policy from the Trump administration. Henrietta Treyz, co-founder and Managing Partner at Veda Partners, discusses President Trump's tariffs and the GOP tax plan. David Ellison, Portfolio Manager at Hennessy Funds, reacts to Goldman Sachs earnings.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 14th, 2025
Featuring:
1) Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, joins for an extended discussion on the outlook for equities and where her S&P target stands. Stocks jumped once President Trump paused import duties on consumer electronics, boosting sentiment. Despite the reprieve, volatility in markets is expected to continue.
2) Gargi Chaudhuri, Chief Investment Strategist, Americas at BlackRock, discusses the outlook for equities, and whether there's a bull case in the market given the concern. While the Dollar has struggled, yen optimism is spreading and the euro is emerging as a prime beneficiary of greenback weakness as investors reassess the dollar’s role in the global financial system.
3) Penny Foley, Portfolio Manager for the TCW Emerging Markets Group, on what she expects from the emerging markets environment given uncertain US policy. The Bloomberg Dollar Spot index fell for a fifth day, touching the lowest levels since October, on concern over the Trump administration's tariff policy, and its effects are expected to ripple throughout emerging markets.
4) Henrietta Treyz, co-founder at Veda Partners, joins to discuss on again, off again tariffs and newfound urgency for the tax bill. President Trump is prioritizing extending the 2017 Tax Cuts and Jobs Act this year, with Republicans in Congress agreeing on a framework to make the cuts permanent.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Dubai dethroning Heathrow as the world's busiest international airport and why there may be fewer outdoor dining spots in New York City this year.

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Investors are on edge as rapid tariff headlines inject unprecedented volatility across global markets. Bloomberg Surveillance hosts Jonathan Ferro and Lisa Abramowicz set the stage for the week ahead with insight and commentary from some of the biggest names on Wall Street.

- Bob Michele, Global Head of Fixed Income at JPMorgan Asset Management
- Libby Cantrill, Managing Director & Head of Public Policy at PIMCO
- Stuart Kaiser, Head of Equity Trading Strategy at Citigroup

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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 Savita Subramanian & Jordan Rochester.

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- Christopher Wright, US Energy Secretary
- Sarah Hunt, Chief Market Strategist at Alpine Woods Capital Investors
- Savita Subramanian, Head: US Equity & Quantitative Strategy
- Tony Crescenzi, Exec VP and Generalist Portfolio Manager at PIMCO

US Energy Secretary Christopher Wright discusses the Trump administration's energy strategy amid a trade war with China and the outlook for energy and gas prices. Sarah Hunt, Chief Market Strategist at Alpine Woods Capital Investors, discusses equity gyrations and if market volatility is set to continue amid a growing trade war with China. Savita Subramanian, Head: US Equity & Quantitative Strategy, talks about her S&P 500 outlook amid growing policy uncertainty. Tony Crescenzi, Exec VP and Generalist Portfolio Manager at PIMCO, talks about this week's bond market moves and if it's offering other warning signs today.

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Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney April 11th, 2025
Featuring:
1) Jordan Rochester, Head: FICC Macro Strategy EMEA at Mizuho, on rapid de-dollarization as the trade war with China heats up. China is raising tariffs on all US goods from 84% to 125% starting April 12, in response to the US's latest tariffs. The escalating trade war has led to a decline in global financial markets, with S&P 500 futures and European stocks falling, and the dollar extending its decline.
2) Kathy Jones, Chief Fixed Income Strategist at Charles Schwab, joins to discuss the bond market's pushback this week and what it's signaling and President Trump pushes ahead with his trade war with China. Investors are flocking to bunds as a safe-haven asset after the US Treasuries' historically bad week, leaving German yields largely unchanged, while the rate on the US 10-year debt has surged more than 40 basis points.
3) Savita Subramanian, Head: US Equity & Quant Strategy at Bank of America, brings us into PPI and discusses the outlook for inflation and equities in the US amid a growing China trade war. The inflation slowdown reflected is yesterday's CPI showed a decline in energy costs, used vehicles, hotel stays, and airfares, with the cost of motor vehicle insurance also retreating. Some experts still warn that higher inflation may be coming due to tariffs, with the impact expected to be felt in the May CPI report.
4) Jennifer Lee, Senior Economist at BMO Capital Markets, joins to discuss why the Fed's breathing easier today, but why the market volatility isn't over yet. US-China trade tensions escalated, causing a slide in futures, the dollar, and oil, with investors rushing to assess the impact on companies and growth.
5) Erica Groshen, former Commissioner of the United States Bureau of Labor Statistics, on disruption in federal statistics, modernizing federal statistics, and preserving data integrity. A Labor Department report released in December showed the US Bureau of Labor Statistics needs to revamp its culture and improve how it disseminates key economic data.

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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 Ian Lyngen & Anna Wong.

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- Russ Koesterich, Portfolio Manager at BlackRock
- Dr. Amrita Sen, founder and Director of Research at Energy Aspects
- Erika Najarian, Equity Research Analyst at UBS
- Torsten Slok, Chief Economist at Apollo

Russ Koesterich, Portfolio Manager at BlackRock, discusses the equity rebound following President Trump's tariff reversal and whether the market could continue its climb from here. Dr. Amrita Sen, founder and Director of Research at Energy Aspects, discusses the outlook for crude oil and energy prices as market concerns due to a US-China trade war persist. Erika Najarian with UBS previews big bank earnings and talks about the health of the financial sector. Torsten Slok, Chief Economist at Apollo, talks about the US economic outlook following extreme market gyrations from President Trump's tariff reversal.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 10th, 2025
Featuring:
1) Patrick Armstrong, CIO at Plurimi Wealth, Tiffany Wilding, Economist: North America at PIMCO, and Greg Boutle, Head of US Equity & Derivative Strategy at BNP Paribas, react to CPI and discuss the outlook for bonds and equities following President Trump's tariff reversal. Strategists have warned investors against buying the dip in equities due to the risks ahead, with some advising caution amid extreme market volatility.
2) Ian Lyngen, Head of US Rates at BMO Capital Markets, joins to discuss signals from the bond market before and after President Trump's tariff reversal and the outlook for US rates amid the current US economic backdrop. Trump's tariff reversal decision was driven in part by the chaos in financial markets, as well as outreach from other countries making concessions, and he is now considering exemptions for companies facing severe consequences from tariffs.
3) Nancy Tengler, CEO & CIO at Laffer Tengler Investments, talks "amateur hour" at The White House and why markets need a better policy rollout to sustain a rally after Trump's tariff pause. After a frenetic meeting with economic aides, President Trump implemented a three-month pause on expanded tariffs on dozens of countries, excluding China, and raised tariffs on the world's second-largest economy. It comes after the president promised that his policies would "never" change.s
4) Jordan Rochester, Head: FICC Macro Strategy at Mizuho, on the bond market signals to President Trump and market risks from here. The dollar weakened to begin Thursday as concern reemerges about potential longer-term damage to the global economy from conflict over trade.
5) Kona Haque, Head of Commodities Research at ED&F Man, on the commodity turnaround on Trump's tariff reversal and how softs will fare as trade deals are renegotiate. It comes as the flow of oil from the world’s biggest producer to its largest importer is set to thin to virtually zero as a trade war between the two powerhouse economies escalates.

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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 Ira Jersey & Pat Haskell.

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- Chris Harvey, Head: Equity Strategy at Wells Fargo
- Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries
- Richard Bernstein, CEO and CIO at Richard Bernstein Advisors
- Ruchir Sharma, CIO at Breakout Capital Partners

Chris Harvey, Head: Equity Strategy at Wells Fargo, joins to discuss whether equities could fall further now that President Trump's tariffs have taken effect. Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries, talks about guidance and earnings from airlines and how tariffs could affect profit margins. Richard Bernstein of Richard Bernstein Advisors discusses the outlook for equities and bond amid recent selloffs. Ruchir Sharma, CIO at Breakout Capital Partners, talks about how public policy is reshaping markets and talks about the US economic outlook this year.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 9th, 2025
Featuring:
1) Viktor Hjort, Global Head of Credit Strategy at BNP Paribas, joins to discuss the global bond selloff and whether the Fed will have to step in. The yield on 30-year US Treasuries briefly surpassed 5%, fueling the biggest selloff since 2020, with investors worried about President Donald Trump's tariffs and their potential impact on the economy and inflation.
2) Constance Hunter, Chief Economist at EIU, joins for an extended discussion on tariffs, the US economy, and outlook for inflation and stagflation. Theories abound about the cause of the bond selloff, including foreign selling of US debt, hedge funds unwinding positions, and a re-evaluation of US government debt by global reserve managers, with some predicting the Federal Reserve may need to step in to stabilize the bond market.
3) Greg Peters, Co-CIO at PGIM Fixed Income, discusses the bond market rout this morning. China retaliated to US tariffs with new levies of its own, causing a global market selloff, with US equity futures falling over 2% and European stocks plunging 4%. The selloff has affected various markets, including currencies, cryptocurrencies, bonds, and commodities, with oil prices falling to around $55 a barrel and the dollar weakening.
4) Ernie Tedeschi, Director of Economics at Yale Budget Lab, talks about their latest report on tariffs now that they've been implemented. Trump's reciprocal tariffs are now in place, imposing levies on China and 60 other trading partners with trade surpluses with the US. The tariffs have raised concerns about a full-blown trade war, with Asian countries bearing the brunt, and have led to a selloff in Treasuries and a decline in Asian and European shares.
5) Amanda Agati, CIO: Asset Allocation at PNC, on her equity outlook given tariffs and cracks emerging in the credit market. The US stock index has plunged nearly 19% since its February peak and is flirting with bear market levels, with the benchmark closing below the 5,000 level for the first time in nearly a year.

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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 Dr. Paul Krugman & Libby Cantrill.

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- Stephen Miran, Chair of the Council of Economic Advisers
- Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI
- Skylar Montgomery-Koning, FX Strategist at Barclays
- Nancy Lazar, Chief Global Economist at Piper Sandler & Co.

Stephen Miran, Chair of the Council of Economic Advisers at The White House, joins to discuss President Trump's tariff strategy. Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, joins for a discussion on the outlook for US equities and whether the market will rebound should it get clarity on tariff policy. Skylar Montgomery-Koning, FX Strategist at Barclays, discusses a weakening US dollar and how currencies are being reshaped by President Trump's economic policy. Nancy Lazar, Chief Global Economist at Piper Sandler & Co., joins to discuss whether the US could enter a recession in 2025 and risks to the market.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 8th, 2025
Featuring:
1) Dr. Paul Krugman, economist and long time NY Times columnist, joins for an extended discussion about tariffs, trade wars, and DOGE. Investors remain on edge over tariff policy, inflation, and potential labor disruptions, as President Trump recently threatened to impose an additional 50% import tax on China if it doesn't pull back from its plan to impose retaliatory levies on American goods.
2) John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., joins to discuss lowering his highest-on-Wall Street S&P target and whether he believes equities will bounce back in 2025. Investors remain flummoxed after President Trump's recent remarks and those of his advisers have created confusion and volatility in markets, with investors struggling to understand his negotiating criteria and the lack of a streamlined process for considering exceptions to the tariffs.
3) Ellen Wald, Senior Fellow - Atlantic Council, discusses oil dropping below $60 a barrel, hitting a four-year-low, and outlook for global energy. Goldman Sachs analysts recently estimated that Brent oil could fall below $40 a barrel in late 2026 under "extreme" outcomes, including a global GDP slowdown and a full unwind of OPEC+ cuts.
4) Libby Cantrill, Managing Director: Public Policy at PIMCO, discusses the Trump administration's tariff policies and the components that are here to stay. Anxiety is growing on Wall Street that Donald Trump's actions might break the economy and key parts of the financial markets. Despite a slight easing of the US stock selloff, there are few signs of optimism, and investors are desperate for any sign of tariff relief.
5) James Steel, Chief Commodities Analyst at HSBC, joins for an extended discussion on gold's record rise and whether it will be the safe haven amid tariff uncertainty. With volatility surging as $10 trillion wiped off global equities after the US unveiled sweeping tariffs last week, gold pushed higher yesterday.

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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 Damian Sassower & Lori Calvasina.

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- Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets
- Justin Wolfers, University of Michigan Professor of Public Policy
- Ed Mills, Washington Policy Analyst at Raymond James
- Meghan Graper, Global Co-Head: Debt Capital Markets at Barclays

Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, talks about the market selloff and whether the meltdown in equities is set to continue as long as tariffs stay in place. Justin Wolfers with the University of Michigan talks about whether negotiating with other countries on tariffs would be an effective economic strategy. Ed Wills of Raymond James discusses President Trump's commitment to tariffs. Meghan Graper, Global Co-Head: Debt Capital Markets at Barclays, discusses what debt markets are telling investors about rising risks in the economy.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 7th, 2025
Featuring:
1) Lori Calvasina, Chief US Equity Strategist at RBC Capital Markets, discusses her note this morning on why full recession pricing could send the S&P to 4,200. The RBC team led by Calvasina writes in note that the concern of many financial market participants seemed to rapidly swing from stagflation to recession on Thursday and Friday. They add that the value/growth ratio within the Russell 1000 has gotten close to the 2024 lows, “making us wonder whether that trade may soon get to a potential inflection point.”
2) Michael Purves, CEO at Tallbacken Capital Advisors, discusses his recent note "The Express Train to 4,800" and why he believes the S&P could fall as low as 4,000. Traders have increased expectations for the Federal Reserve to cut interest rates this year, with markets pricing 125 basis points of easing by year end. Economists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. expect the US economy to fall into a recession this year, with the Fed cutting interest rates in response.
3) Henrietta Treyz, co-founder at Veda Partners, talks about tariff policy, where the GOP stands on tax cuts, and how policy could change in the coming days and months. President Trump's tariff hikes increase the urgency of the Republican tax-cut package, but threaten to undermine its boost to business and consumer confidence. The tariffs could tip the economy into a downward spiral, making it tough for tax cuts and deregulation to reverse, and may lead to a recession this year.
4) Keith Lerner, Co-CIO at Truist, talks about investors being on the defensive as stocks have more room to decline. As President Trump remains defiant on tariffs, markets were set for another tough week, with US equity futures plunging Sunday, following a 10% drop in the underlying index in two days, and economists predicting a recession this year.
5) Sonali Basak, Wall Street reporter with Bloomberg News, on JPMorgan CEO Jamie Dimon and the JPMorgan annual shareholder letter. Dimon urged a quick resolution to the uncertainties sparked by President Donald Trump's tariffs, warning against a potentially "disastrous" fragmentation of America's long-term economic alliances.

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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 Neil Dutta & Kate Moore.

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- Mohamed El-Erian, President of Queens' College, Cambridge
- Stephanie Roth, Chief Economist at Wolfe Research
- Jeffrey Rosenberg, Portfolio Manager - Systematic Multi-Strategy Fund at BlackRock
- Michael Zezas, Global Head: Public Policy and Fixed Income at Morgan Stanley

Mohamed El-Erian, President of Queens' College, Cambridge and Bloomberg Opinion columnist, Jeffrey Rosenberg with BlackRock, and Wolfe Research's Stephanie Roth react to the March jobs report. Michael Zezas, Global Head: Public Policy and Fixed Income at Morgan Stanley, discusses the Trump administration's tariff plan as the GOP weighs how it will extend tax cuts this year.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 4th, 2025
Featuring:
1) Claudia Sahm, Chief Economist at New Century Advisors, Neil Dutta, Head: US Research at Renaissance Macro Research, and Jamie Patton, Co-Head of Global Rates at TCW, react to today's jobs figures and discuss the outlook for the Fed and Jay Powell. Traders have increased their expectations for the Federal Reserve to cut interest rates this year, with money markets now showing 100 basis points of reductions by year-end.
2) Dan Ives, Global Head of Technology at Wedbush Securities, discusses the "worse than worse case scenario" tariff announcement as it relates to tech. President Trump announced sweeping tariffs on imports from virtually every US trading partner, affecting tech companies like Dell, Apple, Sonos, and HP. The tariffs will increase costs, slow demand, and strain global supply chains, with levies ranging from 10% to 46% on imports from countries like China, Taiwan, and South Korea.
3) David Blanchflower, economics professor and labor economist at Dartmouth University, on labor and wages in a high tariff America. As tariffs set into the American economy, it's unclear how they will affect wages and the labor market. It comes as Republicans are considering creating a new tax bracket for those earning $1 million or more, with a top rate of around 39% to 40%, to offset the costs of their tax bill.
4) Gautam Mukunda, professor at Yale University School of Management and Bloomberg Opinion columnist, on the short and long-term political impact of tariffs. It comes as a new poll shows President Trump's approval rating slipping ahead of his tariff announcement.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including the Wall Street Journal story on the domino affect from the trade war and the New York Times' look at the grocery aisle and the impact of 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 Holger Schmieding & Ed Yardeni.

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- Howard Lutnick, US Commerce Secretary
- Jim Zelter, President at Apollo Global Management
- Terry Haines, founder at Pangaea Policy

US Commerce Secretary Howard Lutnick joins for an extended discussion on President Trump's tariff announcement. Jim Zelter, President at Apollo Global Management, talks about how markets will react to President Trump's tariffs. Terry Haines, founder at Pangaea Policy, discusses the political calculations behind President Trump's tariff decision.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 3rd, 2025
Featuring:
1) Doug Irwin, professor at Dartmouth University, on the reset of the global trade order and whether countries will just move on without the US. The tariffs are expected to have significant economic implications, including higher US prices, slower growth, and possibly even a recession, with many countries likely to end up in a recession if the tariff rate stays on for an extended period of time. Ed Yardeni, president at Yardeni Research, talks about lowering his S&P target yet again and whether there's more even more market risks now that tariffs have been announced. Global financial markets experienced a sweeping selloff after President Trump's bid to remake the world trading order proved more aggressive than expected. The tariff announcements threaten to extend the S&P 500's recent weakness.
2) Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, on signals from the bond market in the US and whether a recession is now likely. Gold hit new highs amid investors’ flight to haven assets on the tariff announcement, while 10-year Treasury yields dropped to the lowest level in more than five months and the yen strengthened. 
3) Tina Fordham, founder at Fordham Global Foresight, discusses President's Trump's geopolitical reset and America "going it alone." President Trump's move marks a dramatic escalation in Trump's trade war, sparking threats of retaliation from other countries and causing a selloff in global financial markets.
4) Elizabeth Economy, professor at Stanford University, talks about China getting hit hard by Trump's tariffs and whether they affect China's geopolitical strategy is being reshaped by Trump's approach. China has vowed to retaliate against Donald Trump's tariffs, which have increased by 34%, putting the world's largest economies on a collision course that risks decimating bilateral trade and upending supply chains.

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On today's episode:     
President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world.Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China — which now faces a tariff of well above 50% on many goods — as well as the European Union, Japan and Vietnam.“For years, hard-working American citizens were forced to sit on the sidelines as other nations got rich and powerful, much of it at our expense,” Trump said during an event in the White House Rose Garden to unveil the so-called reciprocal tariffs. “Now it’s our turn to prosper.”The move marks a dramatic escalation in Trump’s trade war, one that risks triggering retaliation from other countries and upends calculations for businesses and consumers at home. China and the EU, America’s largest trading partner, both said they were preparing to take countermeasures in response.The US president has embraced tariffs as a tool to assert US power, revive manufacturing at home and exact geopolitical concessions — counter to the decades-old consensus that lower trade barriers help to foster ties among nations and prevent conflicts. Economists say the near-term result of his measures will likely be higher US prices and slower growth — or perhaps even a recession.Global financial markets were hit by a sweeping selloff after Trump’s announcement, with US equity futures slumping as much as 4%.Gold hit an all-time high and the traditional haven Japanese yen soared, while China maintained its daily support of the yuan. Ten-year Treasury yields fell toward the closely-watched 4% level, their lowest since October.Read More: Fear Grips Markets as Trump Tariffs Raise Risks to Global GrowthLess than three months after returning to the White House, Trump has already erected trade barriers that are bigger by some measures than those imposed in the notoriously protectionist 1930s. Bloomberg Economics calculates that the effective tax rate the US now charges on more than $3 trillion of imported goods may climb to around 23% — higher than any point in more than a century.A statement published Wednesday by the United States Trade Representative explained the Trump administration calculated its raft of new tariffs primarily based on existing trade balances. Countries running a trade surplus with the US faced a flat 10% rate regardless, as did nations where trade was roughly even.There’s a small difference in the tariff rates first announced by Trump and more than a dozen of those listed in the annex that accompanied the White House executive order. For countries like South Korea, Myanmar, Pakistan and India, the rates in the annex are about 1 percentage point higher than the initial announcement.The 10% baseline charge on everyone takes effect after midnight Saturday. The higher duties on targeted countries — which replace, rather than add on top of the 10% rate — are due to kick in on April 9, the White House said.Read More: List of Reciprocal Tariffs by CountryFor now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US. They also won’t apply to some products that are subject to separate duties tied to so-called Sec. 232 investigations such as autos, semiconductors and lumber.The reciprocal tariffs were “much worse than we feared,” said Mary Lovely, a senior fellow at the Peterson Institute for International Economics. There’ll be “huge implications for rerouting of trade,” she said.The president, who’s sought to frame his trade plans as a boost for his blue-collar voters, was joined in the Rose Garden by union members and workers from various industries — including a retired autoworker who spoke on stage. Later, Trump brandished large boards during his 48-minute address to display each nation’s new rate.

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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 Jason Furman & Justin Wolfers.

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- Kelly Ann Shaw, Partner at Hogan Lovells US
- Binky Chadha, Chief US Equity Strategist at Deutsche Bank
- Seth Carpenter, Chief Global Economist at Morgan Stanley
- Julia Coronado, founder and President at Macropolicy Perspectives

Kelly Ann Shaw of Hogan Lovells discusses the potential market reaction and economic impact of President Trump's tariff plan, which will be unveiled late Wednesday afternoon. Deutsche Bank's Binky Chadha talks about whether equities could rebound from correction territory despite an uncertain incoming tariff announcement. Seth Carpenter with Morgan Stanley talks about how tariffs are being priced in to the US economy. Julia Coronado, founder and President at Macropolicy Perspectives, discusses the outlook for the US economy and inflation as the Trump administration's tariff plan is unveiled today.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 2nd, 2025
Featuring:
1) Jason Furman, Professor of the Practice of Economic Policy at Harvard University, discusses his recent NYT opinion piece on why he believes tariffs are such a terrible idea. The tariffs, which will be announced today, are expected to take immediate effect, with countries able to negotiate to bring rates down.
2) Henrietta Treyz, co-founder at Veda Partners, discusses the Wisconsin Senate race, Republicans holding seats in Florida, and how a potential GOP tax hike could reshape the entire tariff and economic discussion. President Trump's team is finalizing plans for reciprocal tariffs to be unveiled on Wednesday. It comes as Republicans are drafting a tax bill that includes increasing the state and local tax deduction to up to $25,000 for an individual.
3) Nisha Patel, portfolio manager at Parametric, talks about opportunities in munis, tax loss harvesting, and great opportunities in long end yields. Municipal bonds underperformed the U.S. taxable bond market last month. The Bloomberg Municipal Bond Index lost 1.69%, compared with a return of 0.04% for the Bloomberg US Aggregate Index.
4) Peter Tchir, Head: Macro Strategy at Academy Securities, on the problem of "An Eye for an Eye" when it comes to global trade on Liberation Day. The tariff announcement has caused uncertainty, shaking markets and prompting economists to cut growth forecasts, with Trump aiming to raise $700 billion annually in tariff revenue. The tariffs could apply widely, even to countries with which the US doesn't have a trade imbalance.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a New York Times survey on a new survey finds that more Americans can't afford medical care, and the Wall Street Journal's story on the workplace battle over who should pay for Ozempic.

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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 Richard Clarida & Michael Nathanson.

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- Ed Yardeni, Chief Investment Strategist at Yardeni Research
- Tobin Marcus, Head: Policy & Politics at Wolfe Research
- Francisco Blanch, Head: Global Commodities & Derivatives Research at Bank of America
- Emily Roland, Co-Chief Investment Strategist at John Hancock Investment Management

Ed Yardeni of Yardeni Research discusses why he's again lowering his S&P target for 2025. Tobin Marcus with Wolfe Research previews President Trump's "Liberation Day" tariff announcement and what investors should expect. Bank of America's Francisco Blanch talks about opportunities in commodities as equity uncertainty grows over economic policy. Emily Roland, Co-Chief Investment Strategist at John Hancock Investment Management, talks about whether investors should be rethinking their equity allocation amid incoming tariff policy.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 1st, 2025
Featuring:
1) Rich Clarida, Global Economic Advisor at PIMCO and former Fed Vice Chair, joins for an extended discussion on how the Fed will digest this week's tariff announcement and the March payrolls data. President Trump's upcoming announcement on tariffs has created uncertainty, leading investors to be cautious and strategists to lower their estimates.
2) Michael Nathanson, partner at MoffettNathanson, joins to discuss his note on YouTube dominance. Measured by revenue, YouTube was the second-biggest media company in the world last year. It brought in $54.2 billion in 2024 — just $5.5 billion behind Disney. And in 2025, Nathanson predicts, YouTube should eclipse Disney, and become the biggest media company in the world.
3) Nancy Lazar, Chief Global Economist at Piper Sandler & Co, joins for an extended discussion on the outlook for the US economy and inflation. President Trump will announce a reciprocal tariff plan on April 2 in the White House Rose Garden, featuring "country-based" tariffs. Uncertainty surrounding his plans, which have often changed and been subject to last-minute carveouts, have triggered fears they could blow up supply chains and raise prices for US consumers. That angst has fueled a weeks-long sell off on Wall Street that extended into Monday.
4) Chris Ailman, former CIO at CalSTRS and founder of Ailman Advisers, discusses his role as the Chair of the 300 Club and what he's hearing is front of mind for global CIOs. One consideration for businesses and investors: the stream of executive orders and reversals coming from the White House — Trump announced a 25% tariff on Canadian and Mexican goods last month, then exempted those covered by USMCA — have required customs experts and trade lawyers. While some companies have their own in-house teams, others have sought outside help in reviewing their products to ensure that enough of them are made in North America.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including YouTube about to become the world's biggest media company and Disney getting the last laugh on Snow White.

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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 Kriti Gupta & Neil Dutta.

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- Mike Wilson, Chief US Equity Strategist at Morgan Stanley
- Henrietta Treyz, co-founder at Veda Partners
- Darrell Cronk, CIO: Wealth & Investment at Wells Fargo
- John Murphy, Lead Analyst: Equity Research at Bank of America Securities

Morgan Stanley's Mike Wilson discusses why he sees limited near-term US stock upside and whether US economic growth will remain strong. Henrietta Treyz of Veda Partners talks about the outlook for tax legislation and tariffs. Darrell Cronk, CIO: Wealth & Investment at Wells Fargo, talks about asset allocation and what investors are most concerned amid growing market uncertainty. John Murphy with Bank of America talks about how President Trump's auto tariffs will affect sector domestically and globally.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 31st, 2025
Featuring:
1) Neil Dutta, Head: Macro Research at Renaissance Macro Research, joins for an extended discussion on the outlook for the US economy and the incoming impact of tariffs. The risk of tariff-linked damage has propelled the S&P 500 to its worst quarter since 2022, wiping $5 trillion off its value from a Feb. 19 record high.
2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, talks about whether it's finally time to give up the bullish take on equities. Wall Street forecasters, including Goldman Sachs' David Kostin, are lowering their S&P 500 targets due to increased recession risk and tariff-related uncertainty. Other strategists, including Morgan Stanley's Michael Wilson and JPMorgan Chase's Mislav Matejka, are also taking a more cautious tone on the S&P 500.
3) Henrietta Treyz, co-founder at Veda Partners, discusses DC headlines, tariffs, and taxes. President Donald Trump plans to start his reciprocal tariff push with "all countries". The Trump administration has not yet outlined what tariffs are coming, how they'll be calculated, or what countries will need to do to secure exemptions.
4) Kriti Gupta, host on Bloomberg TV and Radio from London, joins for a discussion on the global selloff in markets and Marine Le Pen's possible presidential bid. The far-right leader Le Pen was convicted of embezzlement by a Paris court. Prosecutors previously asked for Le Pen to get an immediate 5-year ban on running for office. Le Pen had denied any wrongdoing and said the prosecution is seeking her “political death.”
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Wall Street Journal article about Costco's Kirkland brand and the Yankees' torpedo-shaped bats.

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- Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments
- Angelo Zino, Vice President of Equity Research at CFRA
- French Hill, US Representative: Arkansas and Chairman of House Financial Services Committee
- Jim Bullard, Dean of the Purdue University Business School

Victoria Fernandez of Crossmark Global Investments discusses the outlook for equities amid looming US tariffs. Angelo Zino with CFRA talks about Nvidia-backed CoreWeave IPO. French Hill, Republican US Representative: Arkansas and Chairman of House Financial Services Committee, discusses the economic priorities of the House and how Federal policy could reshape the US economy. Jim Bullard, Dean of the Purdue University Business School and former president of the Federal Reserve Bank of St. Louis, reacts to PCE data today.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 28th, 2025
Featuring:
1) Tiffany Wilding, Economist at PIMCO, Stephanie Roth, Chief Economist at Wolfe Research, and Lauren Goodwin, Chief Market Strategist at New York Life Investments, react to PCE and offer their US market and economic outlook. Today's data comes as Fed officials, such as the president of the Federal Reserve Bank of Boston Susan Collins, have recently warned about inflation reigniting due to President Trump's unclear tariff policy.
2) Sevasti Balafas, CEO at GoalVest Advisory, brings us into the market open and talks asset allocation and offers her stock picks. It comes amid a global selloff in equities as investors have been selling equities in the run up to April 2, ahead of President Donald Trump’s tariff deadline.
3) Mike Haridopolos, Republican US House Representative from Florida, talks about a slew of DC headlines, including tariffs, and his focus on the Consumer Financial Protection bureau and its future. Some of the top Washington stories include Defense Secretary Pete Hegseth urging China deterrence on a trip clouded by Signal uproar and US seeking to control Ukraine investment and squeezing out Europe.
4) Selma Hepp, Chief Economist at Cotality, discusses the outlook for mortgage rates in 2025 and 2026 and why they may remain sticky amid so much economic uncertainty. Freddie Mac said in a statement this week that the average for 30-year loans was 6.65%, down from 6.67% last week. It was the first time in three weeks that mortgage rates fell, as house hunters are finding more choices on the market in time for the country’s key spring selling season.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including the Wall Street Journal article on the significance of women wearing ties and a piece from the New York post on President Trump's childhood home selling at a steep discount.

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- Monica DiCenso, Head: Global Investment Opportunities at JP Morgan Private Bank
- Donald Schneider, Deputy Head: US Policy at Piper Sandler
- Dan Ives, Head: Global Technology at Wedbush Securities
- Amanda Lynam, Head: Macro Credit Research at BlackRock

Monica DiCenso with JP Morgan Private Bank talks about concerns over US growth as traders await PCE data and weigh tariff uncertainty. Donald Schneider, Deputy Head: US Policy at Piper Sandler, offers his analysis of President Trump's 25% auto tariffs and looks ahead to the April 2nd tariff announcement. Dan Ives of Wedbush Securities on Elon Musk's impact on Tesla stock and whether he remains bullish on the company and Big Tech. Amanda Lynam, Head: Macro Credit Research at BlackRock, talks about credit spreads and confidence in US corporate credit amid tariff policy uncertainty.

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Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney March 27th, 2025
Featuring:
1) Julia Pollak, Chief Economist at ZipRecruiter, reacts to US jobless claims and President Trump's 25% auto tariffs announcement and looks ahead to PCE. The 25% auto tariffs will come into effect on April 3, initially targeting fully assembled vehicles, and will expand to include major automobile parts by May 3. Meanwhile, traders await February PCE data, with Bloomberg Economics writing that Core PCE is expected to show accelerated inflation.
2) Wendy Schiller, professor at Brown University, reacts to President Trump's auto tariffs announcement and how Washington will or will not push back, as well as the Signal text controversy. The EU, Canada, and other countries have criticized the 25% auto tariff implementation, coming April 3. President Trump and top allies are struggling to defend against criticism over the inclusion of a journalist in a Signal chat discussing military attacks in Yemen, after texts showed Defense Secretary Pete Hegseth revealing specific operational details.
3) Melissa Otto, Head of TMT Research at Visible Alpha, on recent Mag 7 slides and yesterday's NASDAQ drop, and discusses whether big tech is actually "tariff-proof" or if they'll feel their effects. Tesla inched higher on the news as the Elon Musk-led electric vehicle company could avoid some of the tariff costs due to its US production.
4) Leslie Palti-Guzman, senior non-resident fellow at CSIS and NY University SPS Center for global affairs, joins for a discussion on energy and Russian gas flows as the Trump administration negotiates an end to the war in Ukraine, as well as how Houthi shipping disruptions could change after the Signal text controversy.
5) Ben McMillan, CIO at IDX Advisors, on how equities are reacting this morning to yesterday's tariff announcement and "uncertainty paralysis" in markets. The S&P 500 and other major stock benchmarks fell yesterday as concerns about the impact of a trade war on the economy and inflation resurfaced, driven in part by President Trump's 25% tariff announcement on auto imports.

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- Chris Maher, Chairman and CEO at Oceanfirst Bank
- Jeannette Lowe, Director of Policy Research at Strategas Securities
- Amrita Sen, Director of Research and Founder at Energy Aspects
- Subadra Rajappa, Head: US Rates Strategy at Societe Generale

Chris Maher of Oceanfirst Bank joins for a discussion on how tariffs could impact his business and the outlook for clients and US consumers. Jeannette Lowe with Strategas Securities joins to discuss the latest on policy clarity from the Trump administration. Energy Aspects founder Amrita Sen talks about uncertainty surrounding global energy prices in the coming months. Subadra Rajappa, Head: US Rates Strategy at Societe Generale, talks about the interest rate path in the US as the Fed awaits policy clarity from the White House.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 26th, 2025
Featuring:
1) Danielle DiMartino Booth, CEO & Chief Strategist at QI Research, on the Fed, outlook for rates, and a struggling US consumer. US consumer confidence fell in March to the lowest level in four years due to concerns about higher prices and the economic outlook amid the Trump administration's escalating tariffs.
2) Skyler Weinand, CIO at Regan Capital, brings us into the market open and talks about why the Fed's next move might be a hike. It comes as Federal Reserve Governor Adriana Kugler supports holding interest rates steady for "some time" amid rising inflation expectations and recent uptick in goods inflation. Kugler notes that University of Michigan survey data shows consumers expect prices to increase at an annual rate of 3.9% over the next five to 10 years, the highest in more than three decades.
3) Joy Yang, Head of Index Product Management at MarketVector Indexes, talks about market trends amid rising uncertainty and a declining VIX. Worries over the economic effects of the global trade war are further reducing liquidity in US stocks, creating a headache for institutional investors. Current conditions could ease if tariffs prove less severe than feared or economic worries dissipate, but until then, it's going to be challenging for traders.
4) Ayesha Kiani, professor at NYU and COO at MNNC Group, talks about the major asset managers intensifying their crypto offerings, tokenization projects, and the outlook for Bitcoin. Bitcoin's recent rally is at risk of being short-lived due to broader market uncertainty, lack of bullish momentum, and low volumes. The market remains fragile, with low retail activity, thin volume, and cautious sentiment, making it susceptible to volatility and potential "bull traps".
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Federal workers responding to Elon Musk's latest request and new alternatives to building homes.

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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 & Cam Dawson.

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- Cam Dawson, CIO at NewEdge Wealth
- Claudio Irigoyen, Head: Global Economics Research at Bank of America Securities
- Libby Cantrill, Head of US Public Policy at PIMCO
- Sonal Desai, CIO: Fixed Income at Franklin Templeton

Cam Dawson, CIO at NewEdge Wealth, discusses the outlook for equities and whether rotation will continue out of US stocks. Bank of America's Claudio Irigoyen discusses how tariffs will impact the US and global economies. Libby Cantrill of PIMCO talks about whether traders could or should expect more policy clarity in the coming weeks leading up to April 2. Sonal Desai, CIO: Fixed Income at Franklin Templeton, on the signals about the US economy coming from the bond market.

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Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney

March 25th, 2025
Featuring:
1) Sophia Drossos, Economist at Point72 Asset Management, discusses a cloudy market and compounding uncertainty and where the Fed goes from here. It comes as tariffs have been dominating the news flow this week, with US stocks soaring on Monday on signs that trade sanctions will be narrower than feared. However, signs of "secondary tariffs" could add another layer of uncertainty in markets.

2) Cam Dawson, CIO at NewEdge Wealth, on US equities and whether US exceptionalism is alive and well. It follows stocks having a strong session, with the Nasdaq 100 adding 2.2%, amid signs US trade sanctions will be narrower than feared.

3) Michael Darda, Chief Economist at Roth Capital Partners, joins for an extended discussion on US stagflation, productivity growth, and whether the Fed will have no choice but to cut rates. In a Bloomberg exclusive yesterday, Federal Reserve Bank of Atlanta President Raphael Bostic said he now sees just one interest-rate cut as likely this year, rather than two, with tariff hikes impeding progress on disinflation.

4) Phil Toews, CEO at Toews Asset Management, on his new book "The Behavioral Portfolio" and how portfolios have shifted as the US economy changes. Rising uncertainty on policy and geopolitics could lead traders to look for cheap assets and avoid expensive ones. It makes the future profits that contributed to the expensive stocks being expensive in the first place, look less certain.

5) Lisa Mateo joins with the latest headlines in newspapers across the US, including US retailers bulking up their inventories to get ahead of President Trump's new tariffs and British Airways launching a new first-class seat.

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Stock Movers is a new, five-minute report on today's winners and losers in the stock market. Listen for analysis on the companies making news in markets.     

Listen on Apple: https://podcasts.apple.com/us/podcast/stock-movers/id1803209456     

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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 Liz Ann Sonders & Joe Lavorgna.

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- 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 Group

Jean 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 24th, 2025
Featuring:

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.

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- 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 21st, 2025
Featuring:
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.

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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 Jay Bryson & David Rosenberg.

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- 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 20th, 2025
Featuring:
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.

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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.

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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 Sebastien Page & Dean Curnutt.

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- 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 Group

Steve 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 19th, 2025
Featuring:
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.

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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 Richard Portes & Angela Stent.

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- 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 Research

Peter 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 19th, 2025
Featuring:
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.

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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 Julia Coronado & Eric Balchunas.

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- 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.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 18th, 2025
Featuring:
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.

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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 Stoltzfus & Doug Irwin.

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- Christopher Verrone, Head: Technical & Macro Strategy at Strategas
- Ed Yardeni, President at Yardeni Research
- Mark Rutte, NATO Secretary General
- Torsten Slok, Chief Economist at Apollo

Christopher Verrone of Strategas breaks down the fundamentals behind equities entering a technical correction and whether stock could continue their decline. Ed Yardeni of Yardeni Research talks about why he's lowering his 2025 S&P year-end target. NATO Secretary General Mark Rutte joins for a discussion about the US repositioning itself on the global stage and how it's reshaping the world order. Torsten Slok, Chief Economist at Apollo, on the outlook for rate cuts and a recession in 2025.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 14th, 2025
Featuring:
1) John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., discusses equities entering a correction and whether now's the right time to buy. the S&P 500 has fallen into its first 10% correction in almost two years, with concerns over President Trump's trade war and its impact on the economy. the market is pricing in a recession risk much bigger than credit markets.
2) Matt Diczok, Head of Fixed Income Strategy, Chief Investment Office for Merrill and Bank of America Private Bank, on signals from the bond market regarding broader economic concerns.
3) Doug Irwin, professor at Dartmouth and global trade expert, talks about his Foreign Affairs piece on trade policy and tariffs. In a sign of a trade-war escalation, Trump threatened to enact a 200% tariff on European wine, champagne and other alcoholic beverages. Also on Thursday, Trump said he would not repeal tariffs on steel and aluminum that took effect this week, nor back off plans for sweeping reciprocal tariffs on global trading partners set to start as soon as April 2.
4) Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries, breaks down airline earnings this week. 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. Grim updates from airlines and retailers have added to market sentiment.

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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 & Bob Hormats.

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- Howard Lutnick, US Commerce Secretary
- John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co.
- Bill Dudley, former President of NY Federal Reserve

US Commerce Secretary Howard Lutnick joins Jon, Lisa, and Annmarie to discuss the latest on the Trump administration's tariff and economic policies. John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., talks about the downswing in equities and whether the market is just in a correction or if there are actual policy concerns weighing on stocks. Bill Dudley, former President of NY Federal Reserve and Bloomberg Opinion columnist, discusses his latest Bloomberg commentary.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 13th, 2025
Featuring:
1) Geoffrey Yu, Senior EMEA Strategist at BNY, joins for an extended discussion on the path for US rates and the American economy, as well as equities, amid mounting policy uncertainty. The risk of a US government shutdown comes at a moment when financial markets are hyper-sensitive to new disruption from Trump-led tariffs, with equity strategists recently tempering their expectations about the US market.
2) Julia Pollak, Chief Economist at ZipRecruiter, reacts to jobless claims and talks about the state of US labor. Despite the January improvement for US job openings, recent reports indicate a labor market slowdown, and investors expect the Federal Reserve to make interest-rate cuts this year.
3) Bob Hormats, Vice Chairman of Kissinger Associates and former Under Secretary of State for Economic Growth, Energy, and the Environment, joins to discuss conversations he's having with allies overseas, and why there's so much confusion over tariffs and our interactions with allies. President Trump said the US would respond to the European Union's countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war. The EU launched "swift and proportionate countermeasures" on US imports
4) Constance Hunter, Chief Economist at EIU, on the US economy, US growth, and whether tariffs could actually help the economy. Companies worldwide are planning for the worst amid President Donald Trump's tariff barrage, with many setting up "tariff task forces" to mitigate the impact on sales, profits, and market shares. Companies are exploring alternative production locations, such as Vietnam, and adjusting their business models to minimize the impact of tariffs.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including vaccinating poultry to bring down egg prices, the Grateful Dead's 60th anniversary commemoration, and the newest cruise offerings.

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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 Leland Miller.

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- Max Kettner, Chief Multi-Asset Strategist at HSBC
- Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries
- David Kelly, Chief Global Strategist at JPMorgan Asset Management
- Mohamed El-Erian, President at Queens' College, Cambridge

Max Kettner of HSBC discusses whether equities will be able to weather unclear tariff policy or if there will be a continued slide. Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries, talks about struggling airliners. David Kelly with JPMorgan Asset Management and Mohamed El-Erian, President at Queens' College, Cambridge and Bloomberg Opinion columnist, react to CPI.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 12th, 2025
Featuring:
1) Mark Zandi, Chief Economist at Moody's, Adam Posen, President of the Petersen Institute for International Economics, and Brij Khurana, Fixed Income Portfolio Manager at Wellington Management, react to today's CPI reading and discuss how inflation and tariffs could continue to impact markets.
2) David Sowerby, Portfolio Manager at Ancora Advisors, offers his outlook on equities and the S&P 500 and whether markets will soon see a rebound. Goldman Sachs strategists lowered their year-end target for the S&P 500 Index to 6,200 from 6,500, citing reduced GDP growth forecasts and higher uncertainty. Goldman joins other banks in expressing concerns over economic growth amid geopolitical uncertainties, and recommends owning stocks insulated from market volatility or trading at discounted valuations.
3) Callie Cox, Chief Market Strategist at Ritholtz Wealth Management, brings us into the market open and discusses the importance of staying steadfast amid headline risks. Market forecasters at banks including JPMorgan Chase & Co., Goldman Sachs, and RBC Capital Markets have tempered bullish calls for 2025 amid a US-led trade war.
4) Leland Miller, CEO at China Beige Book, talks about how tariffs are affecting markets and why it's important to closely follow tariffs on China. President Donald Trump's 25% tariffs on steel and aluminum imports took effect, triggering an immediate response from the European Union and sparking a new phase in the global trade war. The tariffs apply worldwide, with effects on economic rivals and close US allies, and have sparked reactions from countries including China, the UK, and Australia, with the EU launching "swift and proportionate countermeasures" on US imports.

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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 Cam Dawson & Ned Lamont.

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- Brian Levitt, Global Market Strategist at Invesco
- Kelsey Berro, Executive Director: Fixed Income at JPMorgan Investment Management
- Holly O'Neill, President: Retail Banking at Bank of America
- Lindsay Rosner, Head: Multi-Sector Investing at Goldman Sachs Asset Management

Brian Levitt of Invesco discusses whether the market could spiral into deeper losses given growing policy and economic uncertainty. Kelsey Berro with JPMorgan Investment Management talks about investing risks and how to position in a blurry eco environment. Bank of America's President of Retail Banking Holly O'Neill talks about the health of the US consumer amid concerns about higher income spenders slowing down. Lindsay Rosner, Head: Multi-Sector Investing at Goldman Sachs Asset Management, discusses signals from the bond market about US economic concerns.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 11th, 2025
Featuring:
1) Connecticut Governor Ned Lamont joins for an extended discussion US politics, working with the Trump administration, managing his state, and the future of the Democratic party. It comes as House Republicans have announced a spending bill to keep government agencies open through September 30, which may lead to a confrontation with Democrats and potentially a government shutdown.2) Margie Patel, Senior Portfolio Manager at Allspring Global Investments, brings us into the market open and discusses whether now is a buying opportunity for equities. President Trump's tariff proposals are causing market turmoil and recession risks, and his team is under pressure to act fast to pass a tax bill and provide an economic boost. Investors remain cautious due to concerns about the American economy, tariffs, and government spending cuts.
3) Stephanie Roth, Chief Economist at Wolfe Research, talks about why she's changing her eco outlook call for 2025. A global stocks selloff eased as US equity futures signaled modest gains on Wall Street. President Trump’s team is starting to warn of short-term pain as they pursue a drastic overhaul of trade and public spending.
4) Lee Klaskow, Senior Transports & Logistics Analyst at Bloomberg Intelligence, joins for a discussion on tariffs and how a brief "disturbance" is bad for freight. President Trump's tariff policies have been marked by reversals and faulty rollouts, causing confusion among US trading partners and businesses.

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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 Henrietta Treyz & Derek DeCloet.

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- Veronica Clark, US Economist at Citi
- Kelly Ann Shaw, Partner at Hogan Lovells
- Barbara Reinhard, CIO: Multi Asset Strategist at Voya Investment Management
- Neil Dutta, Head: US Economic Research at Renaissance Macro Research

Veronica Clark with Citi breaks down the latest eco data from Friday and talks about growing economic uncertainty as President Trump's tariff policy takes shape. Kelly Ann Shaw, Partner at Hogan Lovells and former Deputy Assistant to the President for International Economic Affairs, discusses the renewed thinking on US trade policy from the Trump administration. Barbara Reinhard with Voya Investment Management talks about defensive investing in an increasingly unclear economic and policy environment. Neil Dutta, Head: US Economic Research at Renaissance Macro Research, discusses why he thinks the US economy may be poised to slow.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 10th, 2025
Featuring:
1) Lindsey Piegza, Chief Economist at Stifel, reacts to Friday's jobs figures, previews CPI, and talks about how tariffs could affect US growth. President Donald Trump’s protectionist policies and cuts to the federal workforce have dented confidence in US economic outperformance. Trump said at the weekend the US economy faces “a period of transition,” while Treasury Secretary Scott Bessent earlier warned of disruption to growth.
2) Henrietta Treyz, co-founder at Veda Partners, joins to talk about a potential government shutdown and more tariff talk on deck from President Trump. House Republicans announced a spending bill to keep government agencies open through September 30, which may lead to a confrontation with Democrats and potentially a government shutdown. The bill's passage is uncertain, with some Republicans and Democrats expressing concerns about various aspects of the bill.
3) Derek DeCloet, Managing Editor with Bloomberg News, on Mark Carney succeeding Justin Trudeau and the latest on US-Canada relations. Carney has won the race to become Canada's next prime minister, taking over from Justin Trudeau, amidst economic uncertainty due to US President Donald Trump's trade policies. Carney, a former central banker, has pledged to protect Canada's economy and sovereignty, promising to keep retaliatory tariffs on US goods until the US shows respect and makes credible commitments to free and fair trade.
4) Kristen Bitterly, Head: Wealth at Work at Citi, discusses why it's important for investors to remain constructive at this time. It comes as strategists across several firms including Morgan Stanley, JPMorgan, and RBC have also tempered their bullish S&P calls for 2025.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including older Americans turning to Blue Collar jobs, big Costco TVs, and high prices for a French classic.

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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 Priya Misra & Ellen Zentner.

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- Mohamed El-Erian, President at Queens' College, Cambridge
- Stephanie Roth, Chief US Economist at Wolfe Research
- Kathy Jones, Chief Fixed Income Investment Strategist at Charles Schwab
- Elsa Lignos, Global Head: FX Strategy at RBC
- Frances Donald, Chief Economist at RBC

We get reaction to Friday's critical February jobs report with Mohamed El-Erian of Queens' College Cambridge and Bloomberg Opinion, Stephanie Roth of Wolfe Research, and Charles Schwab's Kathy Jones. Elsa Lignos of RBC joins for a look at currency moves after a week of US tariff uncertainty. Frances Donald, Chief Economist at RBC, discusses concern over slowing US growth and the potential for more inflation.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 7th, 2025
Featuring:
1) Claudia Sahm, Chief Economist at New Century Advisors, Ellen Zenter, Chief Economic Strategist at Morgan Stanley, Rebecca Patterson, former Chief Investment Strategist at Bridgewater, and Kristina Campmany, Senior Portfolio Manager at Invesco, offer their reaction to the February US Jobs Report. Concerns over US growth, rising inflation, and uncertain tariff policy from the Trump administration have made this month's jobs report a critical data point for traders. All of the uncertainty has put the S&P 500 on track for its worst drop since September.
2) Gina Martin Adams, Chief US Equity Strategist with Bloomberg Intelligence, discusses the equity reaction to the February jobs figures. The rapid tariff rollout has been driven by Trump administration and President Donald Trump himself has led to market volatility, with US equities taking a beating and consumer confidence eroding, posing political risks for the president and increasing overall market risks.
3) Anna Wong, Chief US economist at Bloomberg Economics, on her lower-than-consensus jobs call and why the labor market might be weakening or strengthening. Today's report offers clues on whether the Trump administration-led trade war and government job cuts are hitting jobs and making a case for the Federal Reserve to resume interest-rate cuts.
4) Lisa Mateo joins with the latest headlines in newspapers across the US, including the US scouring the globe for egg supplies, NCAA March Madness, and Meghan Markle's one pot pasta technique.

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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 Katharine Neiss & Constance Hunter.

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- Jane Foley, Head of FX Strategy at RaboBank
- Max Kettner, Chief Multi-Asset Strategist at HSBC
- Jason Furman, Professor at Harvard University
- Constance Hunter, Chief Economist at EIU

Jane Foley of RaboBank talks about how the global bond selloff and Germans spending plan is rippling through currency markets. Max Kettner at HSBC offers his outlook for European stocks and whether US equities will weather the policy uncertainty in Washington. Jason Furman, Professor of the Practice of Economic Policy at Harvard University, discusses his view on President Trump's tariff strategy and whether or not it's anti-growth. Constance Hunter, Chief Economist at EIU, discusses the impact of tariffs on the US economy and looks ahead to tomorrow's jobs report.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 6th, 2025
Featuring:

1) Steve Chiavarone, Senior Portfolio Manager at Federated Hermes, on why he remains constructive on the economy and investment environment despite so much policy uncertainty in DC. Markets are focused on the global bond rout and economic fallout from the brewing Trump-led trade war, with bond investors waiting for the European Central Bank's meeting and interest rate decision.
2) Katharine Neiss, Chief European Economist, PGIM Fixed Income, reacts to the ECB decision and talks German spending and the global bond selloff. The rout in German bonds affected global debt markets, with yields surging in Japan, Australia, New Zealand, Italy, and the UK. German bond declines were triggered by the nation's plans for defense and infrastructure investments.
3) Monica Defend, Head of Amundi Investment Institute, offers her take on German spending and talks about how tariffs could reshape investing in Europe. European leaders are moving swiftly to mobilize additional defense funds to counter the threat of aggression from Moscow as US support for Ukraine remains highly uncertain.
4) Henrietta Treyz, co-founder at Veda Partners, discusses the Federal budget, tariffs, DOGE, and the 3/14 government funding deadline. House Democrats have signaled they’re wary of voting for a “clean” stopgap bill, given the Trump administration’s blockage of federal funding.
5) Lisa Mateo joins for a look at newspaper headlines making news around the US. She talks about how the 401K has become Americans rainy day fund, the Rock becoming Hollywood's highest paid actor again, and parents in tech telling their kids to pursue the arts instead.

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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 Bob Michele & Gautam Mukunda.

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- US Commerce Secretary Howard Lutnick
- Bob Michele, CIO: Fixed Income at JPMorgan Asset Management
- George Saravelos, Global Head: FX Research at Deutsche Bank
- Monica Guerra, Head of US Policy at Morgan Stanley

US Commerce Secretary Howard Lutnick joins for an extended discussion on President Trump's tariff and trade policies. Bob Michele of JPMorgan Asset Management discusses how the bond market is weighing the risks of the US-led trade war. Monica Guerra of Morgan Stanley outlines how traders should position themselves for the specifics of President Trump's tariff strategy. George Saravelos, Global Head: FX Research at Deutsche Bank, talks about his research notes outlining the FX impact of tariffs.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 5th, 2025
Featuring:
1) Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, joins for an extended discussion on bonds and fixed income, and warning signals following the implementation of President Trump's tariffs. The dollar fell to a three-month low due to concerns about the negative impact of US tariffs on the economy, with losses particularly stark against the euro. The dollar's downward trend is fueled by concerns that a global trade war - prompted by Trump's tariffs - will weigh on economic growth.
2) Terry Haines, founder at Pangaea Policy, reacts to President Trump's address to Congress and how it could ripple through markets. President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain.
3) Brian Belski, Chief Investment Strategist at BMO Capital Markets, joins for an extended discussion on whether it's time to stay in the market or rotate out of equities. Recent eco data showed that manufacturers are struggling with price pressures and uncertainty regarding tariffs and signaled a potential for a slowdown in US growth.
4) Regina Mayor, Global Head of Clients & Markets at KPMG, joins to talk about the potential for rising energy prices in the US and abroad and whether they could be lowered from the Trump administration's energy policies. President Trump's tariffs on imported goods from top trading partners are likely to increase the cost of home heat pumps, battery storage systems, and electric cars in the US.

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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 Abby Joseph Cohen.

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- Julian Emanuel, Chief Equity & Quantitative Strategist at EvercoreISI
- Ed Mills, Washington Policy Analyst at Raymond James
- Everett Eissenstat, Former Deputy Director for the National Economic Council
- Kit Juckes, Chief FX Strategist at Societe Generale

Julian Emanuel of EvercoreISI discusses his S&P target and how the market could be reshaped by tariffs and geopolitical uncertainty. Ed Mills, Washington Policy Analyst at Raymond James, joins to discuss the severity of President Trump's economic and trade policies. Eerett Eissenstat, Former Deputy Director for the National Economic Council, talks about how tariffs could affect the US and global economies and whether President Trump could change course. Kit Juckes at Societe Generale talks about currency moves amid a US-led trade war.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 4th, 2025
Featuring:
1) Brendan Murray, Bloomberg News Trade Tsar, joins to discuss the economic fallout of the US-led trade war. President Donald Trump imposed 25% tariffs on most Canadian and Mexican imports and raised the charge on China to 20%, affecting roughly $1.5 trillion in annual imports. Canada and China have retaliated with their own tariffs as Mexico weighs what it's next move will be.
2) Barbara Reinhard, CIO: Multi Asset Strategies & Solutions at Voya Investment Management, discusses why she believes it's time to buy equities and why European fundamentals look positive. Stocks in Europe retreated due to concerns over potential US tariffs, with investors watching for hints on future trade steps in President Trump's address to Congress today, as well as China's response to US tariffs.
3) Abby Joseph Cohen, professor at Columbia Business School, joins for an extended discussion on the economic policies of a second Trump administration and the risks of cutting government research funding. New levies mark President Trump’s biggest push to remake global trade, and the Department of Government Efficiency (DOGE) is reshaping government spending with unclear economic consequences.
4) Jean Boivin, Head of the BlackRock Investment Institute, talks about how his group is navigating market and geopolitical uncertainties amid a market selloff. It comes with the US yield curve steepening as President Trump's tariff threats came to fruition.
5) Lisa Mateo breaks down the latest headlines in newspapers across the US, including what could get more expensive under Trump tariffs, vendors advertising tariff-free products, and Chipotle announcing it'll foot the bill on tariff hikes.

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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 Peter Trubowitz & David Bahnsen.

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- Mohamed El-Erian, President at Queens' College, Cambridge
- Tobin Marcus, Head: Policy & Politics at Wolfe Research
- Liz Young Thomas, Head of Investment Strategy at SoFi
- Steve Ricchiuto, Chief US Economist at Mizuho

Mohamed El-Erian, President at Queens' College, Cambridge, discusses slowing US growth as President Trump readies to place tariffs on key allies and China. Tobin Marcus of Wolfe Research talks about reciprocal tariffs and what levies could actually look like. SoFi's Liz Young Thomas discusses how equities will fare amid slowing growth along with tariff and inflation fears. Steve Ricchiuto, Chief US Economist at Mizuho, discusses how policy could ripple through markets and previews upcoming eco data.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 3rd, 2025
Today's Podcast Features:
1) Peter Trubowitz, professor at London School of Economics, joins for an extended discussion on tariffs and geopolitics. It comes as President Donald Trump is planning to impose new tariffs on Canada and Mexico, as well as doubling a levy on China, which would apply to roughly $1.5 trillion in annual imports.
2) Jack Devine, founder and Chairman at the Arkin Group, joins to discuss Friday's Oval Office meltdown and what's ahead for the US Trans Atlantic alliance. Ukrainian President Volodymyr Zelenskiy says he is willing to meet with President Trump again if invited. Zelenskiy signaled that Ukraine is ready to accept a natural resources deal with the US, and European leaders are trying to mend the break between the US and Ukraine.
3) Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, joins to discuss the outlook for equities amid uncertain US growth and incoming tariffs. Markets are bracing for a looming March 4 tariff deadline, with potential levies of 25% on Canada and Mexico and an additional 10% on China.
4) Lisa Mateo breaks down the latest headlines in newspapers across the US, including Oscars Backlash, the Yankees' decision to lift its beard ban, and a rare coffee bean that could impact climate issues.

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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 & Frances Donald.

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- Steven Major, Global Head: FI Research at HSBC
- Kelly Ann Shaw, Former Deputy NEC Director
- Andrew Hollenhorst, Chief US Economist at Citi
- Michael Kushma, CIO: Fixed Income at Morgan Stanley Investment Management

Steven Major, Global Head: FI Research at HSBC, discusses signals from the bond market on outlook for the US and global economies. Kelly Ann Shaw, Former Deputy NEC Director, discusses President Trump's trade proposals. Citi's Andrew Hollenhorst and Michael Kushma of Morgan Stanley Investment Management react to the latest PCE data.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 28th, 2025
Featuring:

• Neil Dutta, Head of US Economic Research at Renaissance Macro Research, Ian Lyngen, Head of US Rates Strategy at BMO Capital Markets, Frances Donald, Chief Economist at RBC, react to PCE and discuss the outlook for US economic growth
• Jordan Rochester, Head of FICC Strategy at Mizuho EMEA, on USD strength and his note on the Japan cyclical story
• Mick Mulroy, co-founder at the Lobo Institute, on Ukrainian President Volodymyr Zelenskiy visiting President Trump at the White House
• Lisa Mateo on newspapers

Eric Mollo

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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 Gil Luria & Caroline Hyde.

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- Christopher Verrone, Head: Technical & Macro Strategy at Strategas Securities
- Torsten Slok, Chief Economist at Apollo
- Bankim Chadha, Chief US Equity & Global Strategist at Deutsche Bank
- Lauren Saidel-Baker, Economist at ITR

Christopher Verrone is Strategas discusses inflation in the US and whether the economy could soon experience a slowdown. Apollo's Torsten Slok talks about his views on rate cuts in 2025 and where the Fed stands as it looks to continue bringing down inflation. Deutsche Bank Chie US Equity Strategist Bankim Chadha discusses recent moves in equities and whether the rally will sustain through 2025. Lauren Saidel Baker, Economist at ITR, on today's jobless claims data and the outlook for the US economy.

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Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney February 27th, 2025
Featuring:

• Gil Luria, Tech Analyst at D.A. Davidson, reacts to Nvidia earnings and discusses the outlook for the company
• Wendy Schiller, professor at Brown University, on the latest DC headlines and Trump's recent statements on tariffs
• Julia Pollak, Chief US Economist at ZipRecruiter, reacts to jobless claims and discusses the latest on the labor market and

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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 Rich Greenfield & Anastasia Amoroso.

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- Yelena Shulyatyeva, Senior US Economist at The Conference Board
- Brian Gardner, Chief Washington Policy Strategist at Stifel
- Ted Maloney, CEO at MFS Investment Management
- Meghan Robson, Head: US Credit Strategy at BNP Paribas

Yelena Shulyateva of The Conference Board offers her outlook on inflation and the US economy. Stifel's Brian Gardner breaks down news flow out of DC and breaks down the latest policy proposals from the Trump administration. Ted Maloney, CEO at MFS Investment Management, discusses his view on the US economy and where investors are putting their money. BNP Paribas' Meghan Robson talks about signals from the bond market and investment opportunities in credit.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 26th, 2025
Featuring:

• Jim Bianco, president at Bianco Research, joins to discuss the "Mar-A-Lago Accord" that's making waves in financial media, as well as his outlook for rates and the US economy
• Anastasia Amoroso, Chief Investment Strategist at iCapital, discusses the latest market drawdown and consumer and investor expectations, and how Nvidia earnings could change that
• Ivan Feinseth, Senior Partner & CIO at Tigress Financial Partners, offers an extended preview of Nvidia earnings
• Lisa Mateo on newspapers

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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 Angela Stent.

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- Sharon Bell, Senior European Equity Strategist at Goldman Sachs
- Jon Lieber, Managing Director at Eurasia Group
- Dan Ives, Global Head of Technology Research at Wedbush Securities
- Neil Dutta, Partner at Renaissance Macro Research

Sharon Bell with Goldman Sachs discusses how European equities could fare amid uncertain US tariff policy and geopolitical positioning. Jon Lieber of Eurasia Group talks about the significance of the US siding with Russia in a UN General Assembly vote. Dan Ives at Wedbush Securities offers a preview of Nvidia earnings on Wednesday. Neil Dutta, Partner at Renaissance Macro Research, reacts to recent eco data and offers his outlook for the US economy.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 25th, 2025
Featuring:

• Rebecca Patterson, former Chief Investment Strategist at Bridgewater, on the German election, US economic uncertainty, and her recent piece on the "Crypto Presidency"
• Angela Stent, Senior Fellow at the Brookings Institute and Georgetown Professor, responds to the US voting alongside Russia at the UN and whether it's the marking of a new world order
• Calvin Tse, Head of Macro Strategy, Americas at BNP Paribas, talks about inflationary tariffs and a flatter US yield curve
• Lisa Mateo on newspapers

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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 Mike Wilson & James Steel

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-Amos Hochstein, Former White House Senior Advisor to the President
-Nela Richardson, Chief Economist & ESG Officer, ADP
-Ed Mills, Raymond James policy analyst

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 24th, 2025
Featuring:

• Holger Schmieding, Chief Economist at Berenberg, on eco impact of German election
• Mike Wilson, Chief US Equity Strategist at Morgan Stanley
• Bob Doll, CIO at Crossmark Global Investments
• Lisa Mateo on newspapers

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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 Robert Kaplan & Mark Gurman.

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- Nadia Lovell, Senior Strategist - US Equity, UBS
- Jason Furman, Professor of the Practice of Economic Policy, Harvard Kennedy School
- Kelsey Berro, Fixed Income Portfolio Manager, JPMorgan Asset Management
- Tiffany Wilding, Economist: North America at PIMCO

Nadia Lovell of UBS offers her outlook on the equity market amid policy uncertainty. Harvard professor Jason Furman reacts to recent economic policies proposed by the Trump administration and discusses whether policy could reignite inflation. JPMorgan Asset Management's Kelsey Berro talks about signals from the bond market. Tiffany Wildling, PIMCO Economist, discusses recent eco data and offers her outlook on the labor market.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 21st, 2025
Featuring:

• Robert Kaplan, Vice Chairman at Goldman Sachs and former President at Dallas Fed, joins for an extended discussion on inflation, the Fed, and the US economy
• Ellen Wald, Senior Fellow at the Atlantic Council, on energy volatility and prices amid uncertainty in Ukraine and other global conflicts
• Mark Gurman, Chief Correspondent: Apple & Tech with Bloomberg News, joins in studio for a discussion on Apple's new products and a broader look a the tech space, including Nvidia's key earnings next week
• Lisa Mateo on newspapers

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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 Jason Furman & Wendy Schiller.

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- Scott Bessent, US Treasury Secretary
- Gennadiy Goldberg, Head of US Rates Strategy at TD Securities
- Claudia Sahm, Chief Economist at New Century Advisors

US Treasury Secretary Scott Bessent joins us for an extended conversation on issues affecting the Department of Treasury, DOGE's involvement, and President Trump's fiscal proposals. Gennadiy Goldberg of TD Securities discusses the outlook for interest rates following Wednesday's Fed Minutes. Claudia Sahm, Chief Economist with New Century Advisors, reacts to jobless claims and offers her outlook on the US labor market.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 20th, 2025
Featuring:

• Jason Furman, Professor of the Practice of Economic Policy at Harvard, discusses his Foreign Affairs column on the economic policy shortcomings of the Biden administration
• Libby Cantrill, Managing Director: Public Policy at PIMCO, on how a budget fight in Congress could impact markets as well as President Trump's recent policy proposals
• David Sowerby, Managing Director and PM at Ancora, offers his stock picks and talks about the sustainability of the equity rally
• Wendy Schiller, professor at Brown University, on the slew of political headlines this week and uncertainty surrounding America's Ukraine policy

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- Ed Mills, Managing Washington Policy Analyst at Raymond James
- Subadra Rajappa, Head: US Rates Strategy at Societe Generale
- Liz Young Thomas, Head: Investment Strategy at SoFi
- Matthew Luzzetti, Chief US Economist at Deutsche Bank

Ed Mills of Raymond James outlines the latest tariff announcement from President Trump and how businesses are positioning themselves to combat potential price increases. Subadra Rajappa, Head: US Rates Strategy at Societe Generale, talks about dollar strength and currency moves amid Trump policy proposals. Liz Young Thomas with SoFi offers her outlook for the equity markets. Deutsche Bank Chief US Economist Matt Luzzetti joins to discuss recent eco data and give his outlook for inflation.

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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 Stephanie Baker & Edward Morse.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 19th, 2025
Featuring:

• Alicia Levine, Head of Investment Strategy and Equity Advisory Solutions at BNY Wealth, joins to offer her outlook for equities and markets in 2025 amid political uncertainty and headwinds
• Ed Morse, Senior Advisor at Hartree Partners, joins for an extended discussion on energy and the outlook for energy markets in a second Trump admin
• Mike Mayo, Head: US Large Cap Bank Research at Wells Fargo, joins for an extended discussion on the banking sector and how big banks will perform in a second Trump term
• Lisa Mateo on newspapers

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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 Tobin Marcus & Michael McKee.

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- Brian Levitt, Global Market Strategist at Invesco
- Scott Chronert, Head:US Equity Strategy Research at Citi
- Kevin Gordon, Senior Investment Strategist at Charles Scwhab
- Nela Richardson, Chief Economist & ESG Officer at ADP

Brian Levitt with Invesco and Scott Chronert of Citi discuss the outlook for equities in the US and abroad amid recent inflation data and geopolitical uncertainty. ADP's Nela Richardson breaks down the latest inflation data out of the US and talks about whether investors could see changes in the labor market in the coming months. Kevin Gordon, Senior Investment Strategist at Charles Scwhab, on recent eco data and what to expect from the Fed and its next meeting. 

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 18th, 2025
Featuring:

• Callie Cox, Chief Market Strategist for Ritholtz Wealth Management, brings us into the market open and discusses the bull case for equities despite geopolitical and inflation risks mounting
• Marc Champion, Bloomberg Opinion columnist, discusses his piece on the end of the Trans Atlantic alliance as Ukraine talks get underway
• Tobin Marcus, Head: Policy at Wolfe Research, talks about the eventual impact of reciprocal tariffs and major cuts to spending potentially on the way from Congress
• Lisa Mateo on newspapers

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- Jim Bianco, President at Bianco Research
- Jeannette Lowe, Director of Policy Research at Strategas Securities
- Lindsey Piegza, Chief Economist at Stifel
- Peter Tchir, Head of Macro Strategy at Academy Securities

Jim Bianco of Bianco Research discusses the recent hot inflation readings and whether it could lead to a Fed rate hike. Strategas' Jeannette Lowe weighs in on President Trump's proposed reciprocal tariffs and how they could ripple through markets. Peter Tchir, Head of Macro Strategy at Academy Securities, offers his market and economic outlook amid tariff and inflation uncertainty. Lindsey Piegza, Chief Economist at Stifel, reacts to retail sales and discusses how they impact markets and the economy.

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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 Ed Yardeni.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 14th, 2025
Featuring:

• Ed Yardeni, President at Yardeni Research, on Fed rate cuts as inflation heats up and Trump's tariffs loom
• Jay Hatfield, CEO at Infrastructure Capital Management, brings us into retail sales and discusses why he believes gradual disinflation is still in play
• Lindsey Piegza, Chief Economist at Stifel, joins for an extended discussion on the Fed and why it could hike rates
• Lisa Mateo on newspapers

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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 & Angela Stent.

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- Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI
- Steve Ricchiuto, Chief Economist at Mizuho
- Nadia Martin Wiggen, Director at Svelland Capital UK
- Andrew Hollenhorst, Chief US Economist at Citi

Julian Emanuel with Evercore ISI discusses yesterday's hotter-than-expected CPI reading and how it could weigh on stocks. Mizuho's Steve Ricchiuto talks about the direction of the US economy amid the uncertain path of inflation. Nadia Martin Wiggen, Director at Svelland Capital UK joins to talk about how political headlines are affecting energy prices. Andrew Hollenhorst, Chief US Economist at Citi, reacts to today's PPI reading.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 13th, 2025
Featuring:

• Jeff deGraaf, Head: Technical Research and co-founder at Renaissance Macro Research, talks about yesterday's hot inflation report, the Fed's approach to rates, and whether the Fed's still behind the curve
• Wendy Schiller, professor at Brown University, on a recent slew of headlines out of DC, including President Trump's cabinet confirmations and Trump's call with Putin
• Julia Pollak, Chief Economist at ZipRecruiter, joins to react to jobless claims and PPI
• Angela Stent, Senior Fellow at The Brookings Institute and Georgetown professor, on President Trump's call with Vladimir Putin
• Lisa Mateo on newspapers

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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 Tina Fordham & Ebrahim Rahbari.

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- Lisa Shalett, CIO Wealth Management at Morgan Stanley
- Bill Dudley, Bloomberg Opinion columnist and former New York Fed president
- David Kelly, Chief Global Strategist at JPMorgan Asset Management
- Mohamed El-Erian, President of Queens' College, Cambridge

Lisa Shalett with Morgan Stanley offers her outlook for the US economy and markets following Fed Chair Jay Powell's Senate testimony yesterday. Former NY Fed President Bill Dudley discusses his latest Bloomberg Opinion column. David Kelly of JPMorgan Asset Management and Mohamed El-Erian with Queens' College, Cambridge react to CPI.

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Bloomberg Surveillance hosted by Tom Keene & David Gura
February 12th, 2025

Featuring:
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, Gina Martin Adams, Chief US Equity Strategist at Bloomberg Intelligence, and Kristy Akullian, Head of iShares Investment Strategy, Americas at BlackRock, react to CPI

Huw van Steenis, Vice Chair at Oliver Wyman, joins for a discussion on private credit, the US economy, and global growth

Tina Fordham, founder at Fordham Global Foresight, and Ebrahim Rahbari, analyst at Fordham Global Foresight, join for a roundtable on geopolitics and global markets

French Hill, US Republican Rep from Arkansas, discusses his new role as in Congress as the Chairman of the House Financial Services Committee and President Trump's spending initiatives

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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 Stuart Kaiser & Monica DiCenso.

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- Ed Mills, Washington Policy Analyst at Raymond James
- Leslie Falconio, Head: Taxable Fixed Income Strategy
- Sinead Colton Grant, CIO at BNY Wealth
- Saira Malik, CIO and Head: Equities & Fixed Income at Nuveen

Ed Mills, Washington Policy Analyst at Raymond James, discusses the latest policy implications of President Trump's steel and aluminum tariffs. Leslie Falconio of UBS talks about recent bond market moves and outlook for yields. Sinead Colton Grant with BNY and Saira Malik of Nuveen discuss the equity bull run and market outlook.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 11th, 2025
Featuring:

• Monica DiCenso, Head of Global Investment Opportunities at JPMorgan, talks asset allocation and the outlook for the S&P and US economic growth
• Meghan Robson, Head of US Credit Strategy at BNP Paribas, talks about credit spreads and recent bond market moves
• Brad Lander, NYC Comptroller and NYC mayoral candidate, on his mayoral candidacy for this year, Eric Adams, and the city's financing
• Mark McCormick, Global Head: FX & EM Strategy at TD, talks about the outlook for currencies amid uncertain tariff policies, and today's show

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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 Purves & Robert D. Kaplan.

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- Nela Richardson, Chief Economist at ADP
- Tobin Markets, Head: Policy & Politics at Wolfe Research
- Francisco Blanch, Head: Global Commodities at Back of America
- Erin Browne, Portfolio Manager at PIMCO

Nela Richardson of ADP discusses the recent labor report and this week's inflation data could reinforce the Fed's narrative on interest rates. Tobin Marcus with Wolfe Research talks about President Trump's recent tariff proposals, and Bank of America's Francisco Blanch talks about their potential impact on commodities. Erin Browne, Portfolio Manager at PIMCO, discusses the outlook for the bond market amid new tariff proposals.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 10th, 2025
Featuring:

• Cam Dawson, CIO at NewEdge Wealth, talks about equites, tech CapEx, and inflation data
• Robert D. Kaplan, author and geopolitical risk expert, discusses his new book, the geopolitical implications of President Trump's expansionist ideas and the outlook for Ukraine and Gaza wars
• Pat Haskell, Head of Muni Bond Group at BlackRock, talks about investors putting money in munis and why bonds can be a safe play amid political volatility
• Lisa Mateo on newspapers

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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 Ellen Zenter & Anna Wong.

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- Torsten Slok, Chief Economist at Apollo Management
- Jeffrey Rosenberg, Senior Portfolio Manager: Systematic FI at BlackRock
- Schweta Khajuria, Senior Research Analyst at Wolfe Research
- Terry Haines, founder at Pangaea Policy

We get reaction to the January jobs report from Apollo's Torsten Slok and BlackRock's Jeffrey Rosenberg. Schweta Khajuria with Wolfe Research joins to discuss Amazon's earnings and outlook for AI demand. Terry Haines, founder at Pangaea Policy, talks about the tax and budget battle in Washington.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 7th, 2025
Featuring:

• Claudia Sahm, Chief Economist at New Century Advisors, Ellen Zenter, Chief Economic Strategist and Global Head of Thematic and Macro Investing at Morgan Stanley, Rebecca Patterson, former Chief Investment Strategist at Bridgewater, and Kristina Campmany, Senior Portfolio Manager at Invesco, react to today's jobs figures
• Anurag Rana, Bloomberg Intelligence Senior Tech Analyst, on Amazon's earnings and AI outlook
• Enda Curran, Global Economy Reporter with Bloomberg News, on Trump's trade and economic policies

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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 Amy Wu Silverman & David Rosenberg.

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- Darrell Cronk CIO: Wealth & Investment at Wells Fargo
- Ed Mills, Washington Policy Analyst at Raymond James
- Reid Hoffman, founder at Manas AI
- Sonia Meskin, Economist at UBS Securities

Darrell Cronk at Wells Fargo discusses benchmark target ranges for markets and previews the January jobs report, while UBS' Sonia Meskin reacts to today's jobless claims. Ed Mills with Raymond James discusses how markets are pricing in proposed economic policies and geopolitical strategies out of Washington. Reid Hoffman, LinkedIn co-founder and founder at Manas AI, joins for a conversation about artificial intelligence and tech.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 6th, 2025
Featuring:

• Amy Wu Silverman, Head of Derivates Strategy for RBC, joins to discuss how options markets are digesting the recent headline risks and what investors are staying the course
• David Rosenberg, founder and President at Rosenberg Research, joins for an extended discussion on equity bullishness and whether Jay Powell is managing a soft landing, and also outlines upside inflation risks
• Wendy Schiller, professor at Brown University, on the slew of headlines out of Washington and President Trump's newfound imperialism in his first three weeks of his second term
• Lisa Mateo on newspapers

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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 Julian Emanuel & Ethan Bronner.

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- Thomas Barkin, President of the Richmond Federal Reserve Bank
- Lindsay Rosner, Head: Multi-Sector Investing at Goldman Sachs Asset Management
- Mike Wirth, Chairman at Chevron
- Hugh Johnston, CFO of The Walt Disney Company

Richmond Fed President Tom Barkin joins in studio with Bloomberg's Michael McKee on the path for interest rates and Fed policy in a second Trump administration. Lindsay Rosner of Goldman Sachs discusses moves in the bond market and volatility from geopolitical uncertainty. Hugh Johnston, CFO of The Walt Disney Company, reacts to the company's earnings report. Mike Wirth, CEO and Chairman of Chevron, also discusses his company's earnings.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 5th, 2025
Featuring:

• Julian Emanuel, Head of Equity, Derivatives, and Quantitative Strategy at EvercoreISI, joins to discuss the equity bull market and potential volatility from an earnings slowdown and Trump uncertainty
• Mona Mahajan, Senior Investment Strategist at Edward Jones, brings us into the market open and talks positive market sentiment amid a roller coaster of headlines
• Amanda Rebello, Head of XTrackers Sales, US Onshore at DWS, on investors protecting against geopolitical, trade, and earnings risks
• Ethan Bronner, Israel Bureau Chief for Bloomberg News, looks ahead to how President Trump's proposal for the US to take over the Gaza Strip transforms the US' relationship with the Middle East

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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 & Krishna Memani.

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- Frances Donald, Chief Economist at RBC
- Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods
- George Saravelos, Global Head: FX Research at Deutsche Bank
- Dan Ives, Global Head of Technology Research at Wedbush Securities

Frances Donald of RBC discusses how tariffs and President Trump's threat of using them could ripple through the US economy and affect Fed policy. Sarah Hunt of Alpine Saxon Woods talks about the whipsawing in markets following the president's tariff announcement then pullback. George Saravelos with Deutsche Bank on the FX moves and dollar reaction to tariffs. Dan Ives with Wedbush Securities weighs in on how tariffs could, or could not, affect Big Tech.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 4th, 2025
Featuring:

• Stephanie Roth, Chief Economist at Wolfe Research, discusses whether the threat of tariffs could affect the US economy and how the Fed might be pricing in tariff policy
• James Steel, Chief Commodities Analyst with HSBC, talks about volatility in commodities markets following President Trump's tariff announcement
• Krishna Memani, CIO at Lafayette College, joins to discuss capital markets and how they're affected by high valuations and tariff concerns
• Lisa Mateo on newspapers

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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 Douglas Irwin & Gautam Mukunda.

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- Jason Furman, Professor of the Practice of Economic Policy at Harvard
- Amrita Sen, founder at Energy Aspects
- Stephen Stanley, Chief Economist at Santander
- Earl Davis, Head: Fixed Income at BMO Asset Management

Tariffs are in focus for markets all week as traders evaluate the fallout of President Trump's economic policies. Jason Furman of Harvard discusses the implementation of tariffs and its economic ripple effects. Energy Aspects' founder Amrita Sen breaks down the impact of tariffs on energy markets. Stephen Stanley with Santander and Earl Davis of BMO Asset Management also weigh in on how a US trade war will affect markets and the American economy.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyFebruary 3rd, 2025
Featuring:

• Doug Irwin, Dartmouth Professor of Economics and global trade expert, on the US trade war
• Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, talks about the early reaction from investors on the trade war
• Gautam Mukunda, professor at Yale School of Management, discusses the political impact of the trade war and if there's any political will to stop it from either party, as well as other political headlines
• Lisa Mateo on newspapers

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• Sebastien Page, Head of Global Multi-Asset and Chief Investment Officer, T. Rowe Price
• Adam Posen, President, PIIE
• Nouriel Roubini, Atlas America Fund Portfolio Manager / Roubini Macro Associates CEO

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJanuary 31st, 2025
Featuring:

• Mandeep Singh, Senior Tech Analyst for Bloomberg Intelligence
• Simona Mocuta, Chief Economist at State Street
• Jen Flitton, Head of US Government Affairs at Invesco
• Lisa Mateo on newspapers

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Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Apple and Intel. They speak with:

• Bloomberg News Technology Reporter Jackie Davalos
• Angelo Zino, Senior Equity Analyst at CFRA Research
• Bloomberg Technology Co-Host Caroline Hyde

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

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Featuring:

• Mike Wilson, Chief US Equity Strategist/Chief Investment Officer
• Cameron Dawson, Chief Investment Officer, NewEdge Wealth
• Sonal Desai, Fixed Income CIO, Franklin Templeton

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJanuary 30th, 2025
Featuring:

• Captain Richard Levy, Aviation Expert Consulting
• George Ferguson, Bloomberg Intelligence aerospace analyst
• Frances Donald, RBC Chief Economist
• John Stoltzfus, Oppenheimer & Co Chief Investment Strategist

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Bloomberg's Carol Massar and Tim Stenovec discuss the latest Big Tech earnings featuring Tesla, Meta and Microsoft. They speak with:

• Bloomberg Intelligence Senior Technology Analyst Mandeep Singh
• Bloomberg Technology Co-Host Caroline Hyde
• James Cakmak, Technology Analyst at Clockwise Capital
• Bloomberg Intelligence Senior Technology Analyst Anurag Rana

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