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Bloomberg Surveillance
Bloomberg Surveillance: The Back to Normal Year
Jan 22, 2024
Guests discuss positive outlook for risk assets and the flow of money into equities. They explore market timing impossibility and the influence of politics on investment decisions. Additionally, they talk about the impact of generative AI and the strength of the US dollar on the global economy. They also highlight the increasing interest in small cap and mid-cap stocks and share their cherished experiences living in university dorms.
31:41
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Quick takeaways
- Small caps and mid caps have been performing well due to expectations of a Federal Reserve interest rate cut, making them attractive to investors in terms of being cheap and under-owned.
- The earnings gap between the top seven companies and the rest of the S&P 500 is narrowing, potentially impacting investor sentiment differently, with some viewing it as a dissipating tailwind and others remaining optimistic about the overall strength of the largest companies.
Deep dives
Small caps and mid caps outperform with Fed rate cuts
Small caps and mid caps have been performing well due to expectations of a Federal Reserve interest rate cut. These stocks were seen as cheap and under-owned, making them attractive to investors. Additionally, many small cap companies had better-than-expected balance sheets, reducing concerns about their financial health. However, for continued outperformance, something beyond an interest rate trade is needed.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode