Bloomberg Surveillance

- Andrew Hollenhorst, Chief US Economist at Citi
- Russell Brownback, Head: Global Macro Positioning at BlackRock
- Samuel Zief, Head: Global FX Strategy at JPMorgan
- Alexander Altmann, Global Head: Equities Tactical Strategies at Barclays

Andrew Hollenhorst, Chief US Economist at Citi, discusses US inflation, the market rally, and Fed independence. Russell Brownback, Head: Global Macro Positioning at BlackRock, discusses what the bond market is signaling about the US economy. Samuel Zief, Head: Global FX Strategy at JPMorgan, talks about a weakening US dollar and whether there is a bull case for the dollar this year. Alexander Altmann, Global Head: Equities Tactical Strategies at Barclays, talks about the persistence of the equity bull run and where equities could land in the second half.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 22nd, 2025
Featuring:
1) Adam Posen, President of the Peterson Institute for International Economics, joins for an extended discussion on trade, the dollar, and Fed independence. Stocks slipped Tuesday while investors braced for news from companies on how tariffs are filtering through to their earnings. JPMorgan Asset Management Global Market Strategist Hugh Gimber told Bloomberg TV that strong second-quarter earnings won't tell us a huge amount about where we are going forward, and that's where we are spending our energy on this earnings season, trying to gauge where the hit from tariffs will come through.
2) Libby Cantrill, Managing Director: Public Policy at PIMCO, talks about why she thinks Jay Powell will not be fired and why the release of Fannie and Freddie from conservatorship is unlikely. Treasury Secretary Scott Bessent said there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington. Bessent said the Fed's independence "is a cornerstone of continued US economic growth and stability", and that its conduct of monetary policy "is a jewel box" that should be preserved.
3) Ian Wyatt, Chief Economist at Huntington Bank, on the broader US economy, US consumer, and why the Southeast is outperforming northern states and has room to run. A record-breaking stock rally has powered on in the face of growing uncertainty over trade negotiations ahead of the Aug. 1 tariff deadline.
4) Ayesha Kiani, NYU Professor and COO at MNNC Group, on the crypto and Bitcoin surge and what the passing of Stablecoin legislation means for the industry, as well as fraud potential. It comes as Bitcoin's price has surged to over $120,000, with its value coming from its finite supply and perceived role as a macro hedge.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on how the affordability crisis in New York City is expanding to a new area of urban life -- animal shelters, as well as a Business Insider story on TikTok's message to managers: Don't 'be nice' during performance reviews.

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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 Frank Lee & Lori Calvasina.

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- Chris Harvey, Head: Equity Strategy at Wells Fargo
- Angelo Zino, Head: Technology at CFRA
- Charles Myers, Chairman and founder at Signum Global Advisors
- Claudia Sahm, Chief Economist at New Century Advisors

Chris Harvey, Head: Equity Strategy at Wells Fargo, talks about market bullishness and whether his S&P target could change should the president fire Fed Chair Jay Powell. Angelo Zino, Head: Technology at CFRA, joins to discuss Big Tech's AI investment and talent poaching as well as the outlook for the broader tech sector. Charles Myers, Chairman and founder at Signum Global Advisors, discusses Fed independence and how a less independent Fed could reshape markets. Claudia Sahm, Chief Economist at New Century Advisors, on US labor and inflation as well as Jay Powell's future as Fed Chair.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 21st, 2025
Featuring:
1) Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, discusses her S&P 500 target and whether equity markets will continue to push through policy and Fed uncertainty. It also comes amid European Union envoys getting ready to meet to formulate a plan for measures to respond to a possible no-deal scenario with US President Trump. The US is now seen to want a near-universal tariff on EU goods higher than 10%, with limited exemptions, according to people familiar with the matter.
2) Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, talks about whether the Fed's right to keep monetary policy unchanged and what the full impact of tariffs will be on US companies. Meanwhile, a new theory from Wall Street is zeroing in on a possible dismissal of Fed Chair Jay Powell. The theory behind this "macro trade" is that a new Fed chair would be more likely to fall in line with Trump's lobbying for lower interest rates, pushing down short-term yields and driving yields on long-term debt higher.
3) Frank Lee, Global Head of Tech Hardware and Semiconductor Research, talks about AI investment, the outlook for semiconductors, and the sustainability of CapEx growth for AI hyperscalers.
4) Jordan Rochester, Head: FICC Macro Strategy EMEA, joins to discuss the dollar-yen trade after the Japanese Prime Minister's election setback this weekend. Japanese Prime Minister Shigeru Ishiba says he must fulfill his responsibility to the nation and its people as the biggest party in parliament. Ishiba raised the US trade talks, inflation, and security environment as pressing issues that must not be left to stagnate due to political instability.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including WSJ's story on Amazon quietly raised prices on low-cost products since President Trump's tariff announcement, as well as Business Insider's story on the 'Gen Z stare.'

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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 Wei Li & Anna Wong.

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- Christopher Waller, Member-Board of Governors at the Federal Reserve
- Paul Atkins, Chairman of the SEC
- Peter Oppenheimer, Chief Global Equity Strategist at Goldman Sachs
- Sonal Desai, CIO: Fixed Income at Franklin Templeton

Christopher Waller, Member-Board of Governors at the Federal Reserve, joins for a discussion on Fed rate cuts and Fed independence. Paul Atkins, Chairman of the SEC, discusses regulation and the recent Stablecoin bill. Peter Oppenheimer, Chief Global Equity Strategist at Goldman Sachs, talks about the outlook for global and US equities amid an uncertain inflation and policy path. Sonal Desai, CIO: Fixed Income at Franklin Templeton, discusses warnings signals from the bond market.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 18th, 2025
Featuring:
1) Wei Li, Global Chief Investment Strategist at BlackRock, joins for an extended discussion about the outlook for inflation and global growth as well as US equity bullishness. Global equities extended their advance on Friday as growing confidence in the resilience of the US economy and upbeat earnings lent fresh support to risk sentiment.
2) Ted Koenig, Chairman and CEO at Monroe Capital, brings us into the market open and discusses private credit and the overall credit outlook. Cross-asset moves come at the end of a week marked by market jitters over speculation that President Donald Trump might fire Fed Chair Jerome Powell. Equity gains reflected strong economic data and optimism that US companies will post robust second-quarter figures, helping to soothe uncertainty stirred by Trump’s tariff war.
3) Brandon Ogelnski, Airlines Analyst at Barclays, discusses the airline industry and his outlook for American airliners. It comes as United Airlines said the second half of the year has become more predictable and suggested it may be able to beat its earnings targets after customers resumed booking flights.
4) Rohit Chopra, former Director at the Consumer Financial Protection Bureau, joins for a discussion on his role before dismissal and recent CFPB and Fed independence news. Top bosses at some of Wall Street’s biggest banks emphasized the importance of an independent Federal Reserve as the long-running saga between President Trump and central bank Chair Jerome Powell intensified.Bank of America CEO Brian Moynihan and Goldman Sachs' David Solomon joined JPMorgan CEO Jamie Dimon in stressing the importance of the Fed’s autonomy.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insider story on Goldman Sachs retaining junior talent and a WSJ story on birthday freeloaders.

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While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive.

The owner of the world’s most popular paid streaming service on Thursday reported second-quarter results that exceeded investor expectations in every major metric, saying revenue grew to $11.1 billion and earnings jumped to $7.19 a share. The company also raised its forecast for full-year sales and profit margins.

The second quarter is historically slow for Netflix, which typically adds more customers at the beginning and end of the year. But the company released a steady slate of popular shows, including two of the most-watched titles of the year — the third season of Ginny & Georgia and the final season of Squid Game. The company also benefited from a weaker dollar. More than two-thirds of its customers live outside the US.

For instant reaction and analysis, hosts Tim Stenovec and Norah Mulinda speak with Geetha Ranganathan, Bloomberg Intelligence Senior Media Analyst and Mark Douglas, CEO of MNTN.

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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 Glenn Hubbard & Frances Donald.

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