Bloomberg Surveillance Bloomberg Surveillance TV: February 27, 2025
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Feb 27, 2025 Christopher Verrone, Head of Technical & Macro Strategy at Strategas Securities, dives into US inflation trends and potential economic slowdowns. Bankim Chadha, Chief US Equity & Global Strategist at Deutsche Bank, analyzes the equity market's sustainability. They discuss the impact of declining bond yields on market leadership and the influence of capital flows on currency valuations. The dialogue touches on consumer sentiment, CEO confidence, and the complexities of the job market, alongside mixed earnings reports driving cautious optimism.
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Growth Concerns
- The bond market seems more concerned about economic growth than inflation.
- Lower bond yields haven't boosted cyclical stocks, suggesting potential economic weakness.
Bond Auctions and Risk Assets
- Both good and bad bond auctions can be bearish for risk assets.
- This highlights the sensitivity of current valuations to interest rate movements.
Expectations Game
- U.S. markets entered 2025 with high expectations, while Europe and China had low expectations.
- This difference in expectations has driven capital flows and market performance.