Bloomberg Surveillance

Marilyn Watson, BlackRock Head of Global Fundamental Fixed Income Strategy, sees "huge opportunities" in fixed income. Stephen Schork, The Schork Group President, says the world is heading into the winter with a thimble of oil. Nela Richardson, ADP Chief Economist, reacts to US jobless claims. Bipan Rai, CIBC Capital Markets NA Head of FX Strategy, expects rates to remain higher for longer. 

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Chief Financial Officers now play a critical role in shaping corporate strategy and positioning organizations to meet future challenges. Bloomberg's monthly program, Chief Future Officer, profiles these leaders and explores the impact they're making on their companies and industries. In this episode, Deutsche Post DHL Group CFO Melanie Kreis tells Tom Mackenzie how the the logistics giant has built capital and diversified its portfolio while accelerating growth during the Covid pandemic.

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Michael Gapen, Bank of America Chief US Economist, says the payroll number is the only one that matters in November. Christyan Malek, JPMorgan Global Head of Energy Strategy, says we are seeing a repricing of oil away from the control of OPEC. Ngozi Okonjo-Iweala, WTO Director General, says the global outlook is "looking quite grim." Tony Crescenzi, PIMCO Market Strategist, Portfolio Manager & Member of the Firm's Investment Committee, says bonds look attractive amidst a "Volckeresque" Fed. 

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Ben Laidler, eToro Global Markets Strategist, says we're almost certainly going into a recession. Jordan Rochester, Nomura International G-10 FX Strategist, expects the euro to weaken further below parity with the US dollar by the end of this year. Freya Beamish, TS Lombard Chief Economist, says China is probably coming out of its recession, but is still very weak. Paul Sankey, Sankey Research Founder and Lead Analyst, says a production cut by OPEC+ will effectively serve to raise oil prices. 

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Bruce Kasman, JPMorgan Chief Economist and Head of Global Economic Research calls it “appropriate” for the Federal Reserve to target a softening of the US labor market. Lori Calvasina, RBC Capital Markets Head of US Equity Strategy, says it's time to pivot to small caps. Nadia Calvino, Spanish Economy Minister, says the Spanish economy continues to grow quite strongly. Chloe Smith, UK Secretary of State Work and Pensions, says the UK government is in talks with the Pensions Regulator. Dan Skelly, Morgan Stanley Wealth Management Head of Market Research and Strategy, says he is watching earnings, PMIs, and jobs data to decide when to increase equity exposure again. 

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Andrew Griffith, UK Financial Secretary to the Treasury and City Minister, says the UK Government, the OBR and the Bank of England are all working in a coordinated fashion. Jane Foley, Rabobank Head of FX Strategy, says the pound still remains very vulnerable. Regina Mayor, KPMG Global Head of Energy, is optimistic about the European energy picture in in the near term. Jim Paulsen, The Leuthold Group Chief Investment Strategist, says thinks the Fed is close to a blink on policy. 

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Jeff Currie, Goldman Sachs, Global Head of Commodities Research, says oil markets are caught in a vicious negative feedback loop. Michael Spence, Nobel laureate & General Atlantic Senior Adviser, says the global economy has shifted and become supply constrained. Carl Weinberg, High Frequency Economics Chief Economist & Managing Director, says the Bank of England has no choice but to hike. Ray Farris, Credit Suisse Chief Economist, says the worst is yet to come for equities.

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Danny Blanchflower, Dartmouth College Professor of Economics and Former BOE Monetary Policy Committee Member, says UK markets are now in chaos. Katrina Dudley, Franklin Mutual Series Portfolio Manager, says the Bank of England's purchase of long-dated UK government bonds is a "quantitative conundrum." Alan Ruskin, Deutsche Bank Chief International Strategist, says the BOE's move places even more pressure on them at the front end of the curve. Saira Malik, Nuveen Chief Investment Officer, says that as long as the dollar and yields continue to move upward, investors need to brace themselves for more pain. 

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Bob Diamond, Atlas Merchant Capital Founding Partner & CEO, says the British government needs to restore its credibility with debt investors if it hopes to push ahead with its plans for the economy. Mark Mobius, Mobius Capital Partners Co-Founder, says the Fed is going to keep raising rates until the rate is above inflation, regardless of market reaction. Bill Dudley, Former New York Fed President, says the Fed is finally getting its arms around making Fed policy tight. Michael O'Leary, Ryanair CEO, says the company is reasonably insulated from pound volatility. Victoria Fernandez, Crossmark Global Investments Chief Market Strategist, says we are getting closer to a market bottom. 

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Russ Koesterich, BlackRock Global Allocation Fund Portfolio Manager, remains cautious on risk and underweight stocks. Kallum Pickering, Berenberg Senior Economist, says it's hard to label UK market moves as panic. Jordan Rochester, Nomura G-10 FX Strategist, says the pound will continue its slide against the US dollar without intervention from the Bank of England and a shift in UK fiscal policy. Steven Wieting, Citi Global Wealth Chief Investment Strategist & Chief Economist, discusses the outlook for US corporate earnings, employment, and Federal Reserve policy. 

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