Chief Market Strategist at MetLife discusses US and Fed outlook. Chief Economist at EY Parthenon previews PCE data and jobless claims. Chief Global Strategist at Moneta talks market sentiment and 'antifragile' era
Anticipated job reports show a rise in unemployment rate, possibly leading to Fed interest rate cuts.
Lower-income consumers are cautious in spending, potentially slowing down consumer spending and positively affecting inflation control.
Deep dives
Economic Outlook and Fed's Interest Rate Cut
The podcast episode discusses the weakening economic indicators signifying a potential economic downturn. Drew Mattis from MetLife predicts a soft landing for the economy, suggesting a forthcoming weakness. Anticipated job reports show an expected rise in the unemployment rate, leading to speculations about a Fed interest rate cut amid economic softening.
Consumer Spending and Economic Trends
The conversation delves into the consumer spending trends and economic bifurcation among different income groups. The discussion highlights how lower-income consumers with higher debt burdens are becoming more cautious in their spending. As uncertainties in the labor market grow, a potential slowdown in consumer spending could impact the economy positively in terms of inflation control.
Housing Market Challenges and Property Values
The podcast covers the challenges faced by the housing market, focusing on the residential tower, 432 Park, experiencing issues such as noise, leaks, and malfunctioning elevators. Homeowners in the building are lowering prices and selling units at a loss, with the penthouse facing a significant price reduction. The market dynamics and property devaluations raise concerns about the sustainability of property values.
Apple's Expansion to Android and Screen Time Impact on Sleep
An interesting shift in the tech industry is observed as Apple considers offering Apple TV+ on Android to tap into a wider user base. The discussion also touches on the impact of screen time before bed on sleep patterns. Contrary to the previous belief, recent studies suggest that the effect of blue light on melatonin suppression varies among individuals, prompting diverse strategies like setting alarms and maintaining sleep journals to improve sleep quality.
Description:Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene and Paul SweeneyMay 30th, 2024 Featuring:
Drew Matus, Chief Market Strategist at MetLife, discusses his outlook for the US and the Fed and his "three favorite canaries"
Gregory Daco, Chief Economist at EY Parthenon, previews tomorrow's PCE data, breaks down jobless claims, and looks ahead to other key upcoming inflation data
Aoifinn Devitt, Chief Global Strategist at Moneta Group, on market sentiment and the "antifragile" era in this market
Bloomberg's Lisa Mateo with her Newspaper Headlines