Bloomberg Surveillance Single Best Idea with Tom Keene: Steven Englander & Michael Green
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Oct 20, 2025 Join a captivating discussion on the future of the U.S. dollar as Steven Englander predicts its resilience against a struggling euro. He dives into the possible mispricing of the dollar, linking it to data mismeasurement and productivity gains. Meanwhile, Michael Green sheds light on the rising wave of corporate bankruptcies and stresses within CLO and credit markets, highlighting the impact of money flow on market spreads. Insightful conversations reveal critical economic trends shaped by current events.
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Mag6 Endorsement From Michael Purvis
- Tom Keene recounts Michael Purvis saying "Mag6 is your friend" and praising earnings and cash generation into year-end.
- This anecdote frames optimism toward revenue and AI-driven excitement as a market force.
Dollar Resilience From Productivity
- Steven Englander argues the dollar will stay resilient while the euro weakens over the coming horizon.
- He says productivity gains are historically dollar-positive and help explain the mispricing versus consensus.
Corporate Bankruptcies Signal Credit Stress
- Michael Green highlights rising corporate bankruptcies for firms with assets over $50 million as a wider sign of credit stress.
- He links elevated bankruptcies to a credit environment that should justify wider spreads than markets currently price.