Bloomberg Surveillance Bloomberg Surveillance TV: December 2nd, 2025
6 snips
Dec 2, 2025 Jim Zelter, President of Apollo Global Management, shares insights on the strong M&A market and the resilience of the U.S. economy. Lindsey Piegza, Chief Economist at Stifel, discusses inflation risks and the Fed's upcoming decisions. Katy Kaminski, Chief Research Strategist at AlphaSimplex, highlights how optimism for rate cuts is benefiting small and mid-cap stocks. Matt Shay from the National Retail Federation analyzes holiday sales trends, inventory strategies, and consumer spending dynamics as retailers adapt to market challenges.
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U.S. Economy More Resilient Than Expected
- The U.S. economy has been surprisingly resilient despite large Fed rate hikes since 2022.
- Apollo expects continued deceleration of rate cuts alongside stronger M&A, CapEx, and corporate activity into 2026.
AI CapEx Will Reshape Credit Markets
- Funding the AI data center buildout may require $5–7 trillion over five to seven years with unclear clearing prices.
- That financing mix will reshape pricing across IG, high yield, and private credit markets.
Hyperscalers Change Lender Risk Dynamics
- Hyperscalers present a different counterparty risk because they are large, cash-generative, investment-grade tenants.
- Lenders will face different duration and risk profiles than past tech financings.