Bloomberg Surveillance

Ben Laidler, Tower Hudson Research CEO, sees growth in rebound in 2021. Dr. Robert Murphy, Northwestern University Professor of Infectious Diseases & Institute for Global Health Executive Director, says the effectiveness of the vaccines from Moderna and Pfizer is way beyond expectations, but the pandemic may not be over for another year. Kathy Hochul, New York Lieutenant Governor, says it may be safer for children to be in schools and back out in their communities. Stephen Stanley, Amherst Pierpont Chief Economist, sees a significant slowdown in job growth over the next several months.

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Julian Emanuel, BTIG Chief Equity & Derivatives Strategist, says markets are getting a reality check. James Bevan, CCLA Chief Investment Officer, says an effective Covid-19 vaccine will give global governments the confidence to increase fiscal stimulus measures. Dr. Peter Hotez, Baylor College of Medicine Dean for the National School of Tropical Medicine, says 12 million Americans could receive a Covid-19 vaccine this upcoming January. Henrietta Treyz, Veda Partners Director of Economic Policy Research, says it is not remotely coincidental that China acknowledged Joe Biden as President-Elect just after President Trump's executive order against the country.

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David Kelly, JPMorgan Asset Management Chief Global Strategist, maps out the road ahead for the markets and the economy. Dr. Albert Ko, Yale School of Medicine Department Chair & Professor of Epidemiology and of Medicine, says coronavirus cases in the U.S. have reached an exponential curve in terms of growth. Beata Kirr, Alliance Bernstein Co-Head of Investment Strategies, says growth stocks have led in an extraordinary way throughout the year of 2020. Retired Brigadier General Mark Kimmitt, Former Assistant Secretary of State for Political-Military Affairs, discusses the future of America's defense strategy.

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Peter Tchir, Academy Securities Head of Macro Strategy, warns markets seem a little bit complacent amid surging coronavirus cases and legal challenges to the U.S. election outcome. Lawrence Gostin, Georgetown University Professor, says the Trump administration has given up on dealing with the coronavirus and are waiting for a vaccine. Alicia Levine, BNY Mellon Investment Management Chief Strategist, says growth stocks will carry the market into 2021 with the S&P 500 positioned to power even higher. David Rubenstein, Carlyle Group Co-Chairman and Co-Founder & Host of "The David Rubenstein Show: Peer-to-Peer Conversations" discusses his interview with Wynton Marsalis, Jazz at Lincoln Center Managing and Artistic Director.

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David Ricks, Eli Lilly Chairman & CEO, discusses the drugmaker’s Covid-19 antibody therapy that was granted emergency-use authorization in the U.S. Subadra Rajappa, Societe Generale Head of U.S. Rates Strategy, sees a departure from bonds into risky assets with a lot of cash on the sidelines that needs to be put to work. Kathy Hochul, New York Lieutenant Governor, says having a vaccine does not take the pressure off of further stimulus at all. Sam Stovall, CFRA Chief Investment Strategist, says Wall Street is looking beyond a coronavirus spike with vaccine developments appearing positive.

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Matthew Hornbach, Morgan Stanley Global Head of Macro Strategy, says a vaccine has the power to really drive risk assets higher, credit spreads tighter, the equity market higher, emerging-market currencies stronger. Mercedes Carnethon, Northwestern University Professor of Preventive Medicine, discusses the possible effectiveness of the vaccine being developed by Pfizer and BioNTech. Jaret Seiberg, Cowen Senior Policy Analyst, says the U.S. election presented a clear victory for the modern side of the Democratic Party. Daniel Alpert, Westwood Capital Managing Partner, says investors should keep an eye on aggregate demand.

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This is a Bloomberg Special Report with Nathan Hager and Amy Morris Joe Biden defeated Donald Trump to become the 46th president of the United States and offered himself to the nation as a leader who “seeks not to divide, but to unify" a country gripped by a historic pandemic and a confluence of economic and social turmoil. In this podcast, we examine the vote, the legal battle and the path ahead for White House policy.

GUESTS:

June Grasso Bloomberg Law Host

Terry Haines Pangaea Policy Founder

Gregory Giroux Bloomberg Government Reporter

Emily Wilkins Bloomberg Government Reporter

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This is a Bloomberg Daybreak Special Report with Nathan Hager, Amy Morris and Michael Barr.

The votes are still being counted and legal challenges remain, but the path to the White House is there for Vice President Joe Biden.

In this podcast, we examine the vote, the legal battle and the path ahead for White House policy.

Plus, how the next steps could play out in the days and weeks leading up to December's Electoral College vote.

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Lara Brown, George Washington University Associate Professor and Director of the Graduate School of Political Management, discusses leadership and the American presidency. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says the economy is strengthening and stimulus is naturally occurring as the labor markets heal. Wendy Schiller, Brown University Chair of Political Science, says the Republican Party did well overall on election night and represent a stable alternative to what the Democratic Party has been offering. Julia Coronado, MacroPolicy Perspectives President and Founder, discusses the recovery dynamic of the labor market.

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Mike Schumacher, Wells Fargo Securities Head of Macro Strategy, says a blue wave has been priced out of markets for the time being. Frederic Mishkin, Former Federal Reserve Governor, discusses the pressure facing the Fed as investors await the final outcome of the U.S. presidential election. Peter Hooper, Deutsche Bank Securities Global Head of Economic Research, says the latest jobless claims figures show the labor market is not improving further. Mary Barra, General Motors Chairman & CEO, says there is a strong and growing demand for trucks in the U.S.

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