Bloomberg Surveillance

Ben Laidler, eToro Global Markets Strategist, says the reopening trade hasn't even started yet. Michael Spence, General Atlantic Senior Advisor & Nobel Laureate, says we need a real plan for vaccine rollout. Ed Yardeni, Yardeni Research Founder & Chief Investment Strategist, says there is tremendous liquidity sitting out there. Michael Nathanson & Craig Moffett, MoffettNathanson Founding Partners and Senior Research Analysts, discuss the post-TV world.

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David Kelly, JPMorgan Asset Management Chief Global Strategist, reacts to U.S. inflation data. Tony Crescenzi, PIMCO Market Strategist, Portfolio Manager & Member of the Firm's Investment Committee, investment in people and infrastructure will drive productivity more than investment in technology. Patrick Palfrey, Credit Suisse Co-Head of Quantitative Research and Senior Equity Strategist, says strong sales should keep margin pressure under control. Steve Sadove, Former Saks CEO and Mastercard Senior Advisor, says brick-and-mortar retail is back. Nicolas Aguzin, HKEX Chief Executive, says the IPO pipeline is at record levels.

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Mike Wilson, Morgan Stanley Chief U.S. Equities Strategist, warns of margin degradation into 2022. Esther Duflo, Nobel Prize winning Economist and Massachusetts Institute of Technology Professor, discusses her studies about poverty in the global economy. Marilyn Watson, BlackRock Head of Global Fundamental Fixed Income Strategy, says markets are already pricing in fiscal stimulus. Doug Kass, Seabreeze Partners President, details his outlook and explains why he thinks “we are at the fork in the investment road.” Greg Valliere, AGF Investments Chief U.S. Policy Strategist, expects a ferocious fight in the fall over the second infrastructure bill.

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Ed Morse, Citi Head of Commodities Research, says we haven't reached peak oil demand yet, but it's coming. William Lee, Milken Institute Chief Economist, Fed is concerned with maximum extent of employment. Brian Levitt, Invesco Global Market Strategist, says the U.S. wll stabilize to a more modest growth rate. Claudia Sahm, Jain Family Institute Senior Fellow, says we do not have the headwinds to keep wage gains going.

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Marty Walsh, U.S. Secretary of Labor, says the economy is moving forward. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says the strong jobs report across all metrics will accelerate the Fed taper discussion. Gina Martin Adams, Bloomberg Intelligence Chief Equity Strategist, discusses outlook for equities as investors assess the jobs data, positive earnings and delta variant risks. Jerome Schneider, PIMCO Head of Short-Term Portfolio Management, sees more growth ahead for the economy.

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Randy Kroszner, University of Chicago Booth School Professor of Economics and Former Fed Governor, says inflation pressures may last about six months. Seema Shah, Principal Global Investors Chief Strategist, says it's difficult to go long bonds at current levels. Steve Ricchiuto, Mizuho Securities Chief U.S. Economist, explains why the Fed's balance sheet should continue to grow. Dr. Gigi Gronvall, Johns Hopkins Center for Health Security Senior Scholar, says don't fear the Covid-19 variants. Uber CEO Dara Khosrowshahi discusses the company’s second-quarter earnings report and outlook as Covid-19 cases rise across the U.S.

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Tom Porcelli, RBC Capital Markets Chief U.S. Economist, thinks the September FOMC meeting could be a market-moving catalyst. Tobias Levkovich, Citi Chief U.S. Equity Strategist, says he is certain we will have a recession over the next ten years. Ira Jersey, Bloomberg Intelligence Chief U.S. Interest Rate Strategist, says realistically the only thing that matters is the outlook for Covid and the effect that's going to have on the economy. Mary Barra, General Motors Chair & CEO, discusses the automaker’s second-quarter earnings report and outlook. David Rubenstein, The Carlyle Group Co-Founder, discusses his interview with McDonald's CEO Chris Kempczinski.

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Joe LaVorgna, Natixis CIB Chief Economist of the Americas, doesn't expect Fed tightening until the next election. Michael Holland, Holland & Co. Chairman, says it would be a fool's errand to ignore China. Anna Han, Wells Fargo Equity Strategist, says economic data continues to be in the eye of the beholder. Padhraic Garvey, ING Head of Global Debt & Rates Strategy, says Europe never really recovered from the global financial crisis as measured by monetary policy. David Ricks, Eli Lilly Chairman & CEO, says the company's forecast takes into account the reduced Covid-related drug sales as the pandemic wanes.

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Howard Ward, Gabelli Funds CIO of Growth Equities, sees several years of good earnings ahead. Leland Miller, China Beige Book CEO, says we have to watch the mini virus spikes that appear in China. Stephen Stanley, Amherst Pierpont Chief Economist, expects the Fed's first rate hike to come in June 2022. Lisa Hornby, Schroders Head of U.S. Multi-Sector Fixed Income, says yields belong higher.

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Jan Hatzius, Goldman Sachs Chief Economist, is expecting a pretty significant deceleration as we go into 2021 and 2022. Lee Ferridge, State Street Head of Macro Strategy for North America, says it is too soon to be defensive in markets. Andrew Pekosz, Johns Hopkins Bloomberg School of Public Health Professor & Virologist, says the Delta variant's contagiousness is a cause for concern. Terry Haines, Pangaea Policy Founder, thinks the human infrastructure component of the deal in D.C. is only 30% likely to pass.

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