Gina Martin Adams, Chief US Equity Strategist at Bloomberg Intelligence, dives into the market dynamics and effects of the latest CPI reading. Virginie Maisonneuve, Global CIO Equity at Allianz, discusses the global equity outlook amid inflation concerns and potential US-China relations. Lori Calvasina, Head of US Equity Strategy at RBC, shares insights on shifting investment trends toward riskier markets. The panel humorously hints at how AI could reshape industries, making for a lively and informative discussion!
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insights INSIGHT
Services Inflation Cooling Affects CPI
Inflation remains muted partly due to falling energy prices from last year and cooling services inflation.
Services form two-thirds of CPI and their weakness suggests less impact on overall inflation despite tariffs affecting goods.
insights INSIGHT
Inventory Build-Up Shields Consumers
Companies might be building up inventories during this tariff pause, avoiding immediate price increases.
This inventory buildup might shield consumers from tariff inflation temporarily but could pose risks if consumer demand weakens.
insights INSIGHT
PPI vs CPI Signals Margin Pressure
Producer Price Inflation (PPI) rising faster than Consumer Price Inflation (CPI) signals margin pressures for companies.
Profit margins might get squeezed if PPI remains elevated, despite low CPI suggesting controlled inflation.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJune 11th, 2025 Featuring: 1) Mona Mahajan, Senior Investment Strategist at Edward Jones, Gina Martin Adams, Chief US Equity Strategist at Bloomberg Intelligence, and Winnie Cisar, Global Head: Strategy at CreditInsights, react to CPI. While the CPI reading remains important as an indicator of the path of US inflation, traders are waiting to get clarification on what the real trade story is and how much global growth will be impacted. 2) Virginie Maisonneuve, Global CIO Equity at Allianz, joins to discuss the global equity outlook and how inflation could play a role in US and global investments. Financial markets are closely watching whether the US and China could tamp down tensions that economists say have tipped the global economy into a downturn. After some 20 hours of negotiations in London, US officials said both sides had established a framework to revive the flow of sensitive goods, even though the plan still needs sign-off from Trump and Xi Jinping. 3) Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, talks about her S&P 500 target and how that could be changed by today's inflation reading. Investors have been shifting to under-owned, riskier pockets of the market like small caps and high-beta stocks, with Nomura strategist Charlie McElligott citing a “right-tail” risk. 4) Karen Manna, Vice President at Federated Hermes, joins to discuss warnings signs from the bond market and opportunities for bond investors. Bond vigilantes remain focused on the US debt and deficit as uncertainty over tariffs and inflation continue. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including an NYT story on an AI company looking to take white collar jobs and a story in The Times on parents valuing baby girls over boys.
Bloomberg Surveillance 
