Bloomberg Surveillance Single Best Idea with Tom Keene: Rebecca Patterson
Jan 22, 2026
In this engaging discussion, Rebecca Patterson, a Senior Fellow at the Council on Foreign Relations, shares her insights on the gradual erosion of confidence in the dollar. She emphasizes the significance of shifts in the Treasury curve and how they can be masked by short-term stability. The potential implications of upcoming Supreme Court decisions on tariffs also take center stage, highlighting their impact on consumer prices and the political landscape. Her deep knowledge of geopolitics and finance makes for a compelling listen.
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Meteorology Illustrates Systemic Linkages
- Tom Keene recounts Rob Carolyn's analysis linking a polar vortex to distant weather impacts, illustrating complex meteorological connections.
- He praises Carolyn's ability to trace effects from the vortex to locations like Abilene and Catalina Island.
Slow Erosion Of Dollar Confidence
- Rebecca Patterson warns that confidence in dollar-based assets is eroding slowly over years, not just days.
- She frames the dollar's outlook as a time-frame and degree problem that will play out long-term.
Long-End Yields Signal Market Concern
- Tom Keene highlights curve movements, noting short-term stability but volatility farther out the yield curve.
- He points to 30-year yields as a litmus test for bond vigilantes and long-term concern.