Bloomberg Surveillance Bloomberg Surveillance TV: October 15th, 2025
17 snips
Oct 15, 2025 Tiffany Wilding, an economist at PIMCO, provides keen insights into Federal Reserve policies and the impacts of the ongoing U.S. government shutdown on labor data. She predicts possible rate cuts and discusses the significance of private labor indicators. Stephen Auth, Chief Investment Officer at Federated Hermes, highlights the risks in the upcoming earnings season, suggesting that missed expectations could lead to market pullbacks. He also shares his optimistic view on long-term market prospects amid evolving trends.
AI Snips
Chapters
Transcript
Episode notes
Rebalance Using New Cash
- Use new cash to rebalance away from an overweight in large-cap US equities to avoid concentrated valuation risk.
- Be tax-smart and sell into new contributions rather than realizing large capital gains when shifting into international or alternatives.
Dollar Weakness Favors International Stocks
- A weakening dollar coupled with Fed cuts tends to drive international equity outperformance versus US markets.
- Alternatives remain relatively cheap because they haven't rallied like US public markets, creating opportunity.
Euro Moves Amplify European Returns
- European financials rally because they were cheap and the euro appears undervalued, so FX gains amplify stock returns.
- Euro appreciation can mechanically boost European equity performance by roughly the same percentage.