Bloomberg Surveillance

Bloomberg Surveillance TV: April 23, 2024

Apr 23, 2024

Deutsche Bank's Matt Luzzetti predicts Fed's mid-cycle adjustment while Morgan Stanley's Mike Wilson advises against small-cap stocks. Vijay Rakesh previews Tesla earnings. Podcast delves into market dynamics, interest rate scenarios, Fed decisions, inflation metrics, challenges in EV industry, and leadership across industries.

27:53

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Episode guests

Vijay Rakesh

Mike Wilson

Matt Luzzetti

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Fed is poised for a mid-cycle adjustment, focusing on earnings over multiple expansion for stock appreciation.

Post-COVID economic landscape remains unstable with sectors like energy, materials, and financials thriving but facing sustainability questions.

Deep dives

Challenges Faced by Equity Markets in April

In April, equity markets began trading poorly due to the re-pricing of Fed cuts, resulting in 10-year yields exceeding targets. Moving forward, stock appreciation will likely rely more on earnings improvements than multiple expansion.

Introduction

2min

Market Performance Analysis and Economic Outlook

10min

Analysis of Interest Rate Scenarios and Market Implications

3min

Fed's Decision-Making Amid Economic Uncertainty

5min

Analysis of Rate Cut Timing and Inflation Metrics

3min

Navigating Challenges in the EV Industry: A Focus on Tesla

7min

Exploring Leadership and Success across Industries

3min

-Matt Luzzetti, Deutsche Bank Chief US Economist & Head of US Economic Research
-Mike Wilson, Morgan Stanley CIO & Chief US Equity Strategist
-Vijay Rakesh, Mizuho Securities Managing Director & Senior Semiconductor Analyst

Deutsche Bank Chief US Economist Matt Luzzetti says the Fed is primed for a mid-cycle adjustment, with 'no reason to guide towards a full cutting cycle.' Morgan Stanley CIO Mike Wilson says 'rates are too high for the majority of the economy' and advises against small-cap stocks. Vijay Rakesh of Mizuho Securities previews Tesla earnings as the Magnificent 7 stocks' earning cycle gets underway.

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