Bloomberg Surveillance

- Jim Bullard, Business School Dean at Purdue University
- Joseph Amato, CIO: Equities at Neuberger Berman
- Heidi Crebo-Rediker, Adjunct Senior Fellow at the Council on Foreign Relations
- Claudia Sahm, Chief Economist at New Century Advisors

Jim Bullard, Business School Dean at Purdue University, looks ahead to the Fed decision and whether the Fed will signal that it will cut rates. Joseph Amato, CIO: Equities at Neuberger Berman, talks about how earnings from Big Tech companies can help propel the S&P rally. Heidi Crebo-Rediker, Adjunct Senior Fellow at the Council on Foreign Relations, discusses recent trade deals as the August 1st tariff deadline approaches. Claudia Sahm, Chief Economist at New Century Advisors, talks about trade, the Fed, and US labor health.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 28th, 2025
Featuring:
1) Abby Joseph Cohen, professor at Columbia University and former Chief Investment Strategist at Goldman Sachs, brings us into the market open and talks about Fed and trade policy. Fed policymakers are largely expected to hold rates steady for a fifth consecutive meeting in the face of sustained pressure from President Trump on Powell to lower borrowing costs.
2) Amy Wu Silverman, Head of Derivatives Strategy at RBC Capital Markets, joins for an extended discussion on US stock volatility and why expectations are volatile but not volatility itself. S&P 500 contracts were little changed in the lead-up to the Federal Reserve interest-rate decision, which have become a cause of contention between the White House and Fed Chair Jerome Powell.
3) Ryan Majerus, former Assistant General Counsel at the Office of the U.S. Trade Representative during the first Trump Administration, talks about who's driving the Trump administration's trade policy and what tariffs will look like August 1st. President Trump's recent trade deal announcements are light on detail, with key aspects still under negotiation and partners giving mixed signals about what they signed up for.
4) Mark Howard, Managing Director and Senior Multi-Asset Specialist at BNP Paribas, joins to discuss why today will either prove to be a "trifecta" of economic news, or a "trilemma." As the Fed meeting comes into focus in the afternoon, investors will watch for any signs of a greater openness from the Fed to easing when it next gathers in September.
5) Ari Wald, Head of Technical Analysis for Oppenheimer, talks about why the bull market is just overbought but not over. Before the Fed, GDP figures this week will offer an update on the health of the American economy in the buildup to Friday’s key payrolls report. The relentless rush of big earnings continues in the US later, with Microsoft and Meta both reporting.

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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 Myles Miller and Tony Hatch

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• Mike Wilson, Chief US Equity Strategist/Chief Investment Officer, Morgan Stanley
• Kevin Gordon, Director/Senior Investment Strategist, Charles Schwab
• Stephen Stanley, Chief U.S. Economist, Santander U.S. Capital Markets

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 29th, 2025
Featuring:
1) Nisha Patel, Portfolio Manager at Parametric on the big week with the Fed, earnings, and economic data. No one expects the Fed to cut rates, but any shift in guidance or comments from Powell will be key takeaways.
2) Neil Dutta, Head of Economics Renaissance Macro Research, on how Trump won on his terms and the Europeans lost on theirs. Perhaps now that this deal is done (Europe has a slightly higher tariff rate than the UK but same as Japan) they can all pivot to China as a group. China is the surplus country that needs to rebalance. As an aside, the Europeans totally did the Canadians dirty. So much for them getting closer together. No upside for the Canadians to go that route anymore.
3) Peter Tchir, Head: Macro Strategy at Academy Securities, on a fresh look at the jobs JOLTS (I focus the QUIT rate as it is almost a “crowd sourced” measure of sentiment in the labor force. We get ADP, which has been weak, but the market has chosen to ignore. Finally we get the NFP data, where the headline has surpassed expectations the past 3 months, while the underlying details haven’t fully supported that.
4) Kristy Akullian, Head of iShares Investment Strategy, Americas at BlackRock looks to payrolls on Friday as a key indicator of economic health. Consensus surveys point to +109k jobs added in July vs +147k in June. Labor market data has largely surprised to the upside this summer, with the strong beat in June, and now 6 straight weekly drops in initial claims.

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The gunman who killed at least four people and himself at a Midtown Manhattan office tower was targeting the National Football League, but ended up on Rudin Management’s floor by mistake, two senior law enforcement officers said.   

Instead of going to the NFL’s fifth-story office at 345 Park Ave., he picked the wrong elevator bank that took him to Rudin’s office on the 33rd floor, the officers said. That’s where the body of the shooter, believed to be Shane Tamura, a 27-year-old who last resided in Las Vegas, was found.   

A manifesto and notes found on him indicated a fixation with Chronic Traumatic Encephalopathy, or CTE, caused by head trauma, the officers said. His social media feed showed his football career ended after a head injury, and he wrote that the NFL didn’t do enough for CTE.   

The gunman, who has a documented history of mental-health troubles, drove across the country before entering New York City earlier Monday, Police Commissioner Jessica Tisch said.   

For details, Nathan Hager speaks with Bloomberg News Reporter Myles Miller.

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-Terry Haines, Pangea Policy Founder 
-Steve Ricchiuto, Mizuho Chief Economist
-Richard Masters, Premier League CEO

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 28th, 2025
Featuring:
1) Kriti Gupta, host of Bloomberg TV & Radio in London, on European capitals are putting a brave face on the trade deal they struck with President Donald Trump, which will see the European Union accept a 15% tariff on most of its exports to the US while reducing levies on some American products to zero.
2) Elizabeth Economy, Hargrove Senior Fellow and co-chair of the Program on the US, China, and the World at Stanford University’s Hoover Institution, on US and Chinese officials are meeting Monday to extend their tariff detente beyond a mid-August deadline, and haggle over other ways to further defuse trade tensions.
3) Tiffany Wilding, Economist: North America at PIMCO, on Federal Reserve officials are determined to hold interest rates steady a little while longer, though an increasingly contentious debate at this week’s policy meeting may bolster expectations for rate cuts in the fall.Fed Chair Jerome Powell is under intense pressure from President Donald Trump and his allies to reduce borrowing costs, and may face multiple dissents this week from officials who want to provide support to a slowing labor market.
4) Curtis Sliwa, founder and CEO of the Guardian Angels and NYC Mayoral candidate

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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 David Rosenberg & Alicia Levine.

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- Jason Thomas, Head: Global Research & Investment Strategy at Carlyle Group
- Francisco Blanch, Head: Global Commodities & Derivatives Research at Bank of America
- Gregory Daco, Chief Economist at EY Parthenon
- Vishal Khanduja, Head: Broad Markets Fixed Income at Morgan Stanley Investment Management

Jason Thomas, Head: Global Research & Investment Strategy at Carlyle Group, joins to discuss the outlook for US markets and inflation as well as Fed independence. Francisco Blanch, Head: Global Commodities & Derivatives Research at Bank of America, talks about tariffs on copper and opportunities in commodity markets amid volatility. Gregory Daco, Chief Economist at EY Parthenon, joins to discuss the outlook for inflation and labor in the US. Vishal Khanduja, Head: Broad Markets Fixed Income at Morgan Stanley Investment Management, discusses bond market signals on the US economic outlook.

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