Dana Telsey, Chief Research Officer at Telsey Advisory Group, shares valuable insights into today's consumer landscape. She discusses how rising tariffs and inflation are contributing to a historic drop in consumer sentiment. Telsey highlights the pressing challenges retailers face in adapting to these economic pressures. The conversation also touches on how brands like Steve Madden and Birkenstock are strategizing amidst these uncertainties. Tune in for a fascinating look at the intersection of consumer behavior and economic policy!
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insights INSIGHT
Fed's Rate Path Hinges on Trade Clarity
Ian Lyngen expects the Fed to resume rate normalization once trade war clarity emerges.
He forecasts 10-year Treasury yields dropping from 4.30% to 3.65% this year despite tariff uncertainties.
volunteer_activism ADVICE
Market Entry Strategy Amid Volatility
Dollar cost average entry into markets over months to manage risk amid volatility.
Market recovers faster than the economy, so don't fear buying after sharp drops.
insights INSIGHT
Tariff Impact Looms on Retail Shelves
Tariffs are driving retailers to rely on higher prices, diversified sourcing, or shared cost.
Empty shelves likely emerge mid-summer as inventory pressures surface.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 5th, 2025 Featuring: 1) Ian Lyngen, Head: US Rates Strategy at BMO Capital Market, talks about the 10-year outlook and if Treasury Secretary Bessent's sub-4% target is in the cards following last week's inflation reading. President Trump seized on strong job growth to pressure Fed Chair Jay Powell to cut interest rates, but bond traders concluded the opposite, dialing back rate-cut bets. 2) Alicia Levine, Head of Investment Strategy and Equities, BNY Wealth, brings us into the market open and discusses her S&P outlook and why she's downgrading risk in her portfolio. Financial markets have steadied in the past two weeks as Trump dialed back his tariffs amid signs that trade talks are progressing, and the S&P's looking to extended its longest winning streak in 2 decades. 3) Dana Telsey, Chief Research Officer at Telsey Advisory Group, joins for a Big Picture look at the consumer and where tariffs could hamper their spending. It comes as University of Michigan US consumer sentiment has fallen to one of its lowest points on record amid tariff, inflation, and price uncertainty. 4) Henrietta Treyz, co-founder at Veda Partners, takes a look at DC headlines, talks Congressional priorities heading into the summer, and discusses her note "It's Beginning to Look a lot like COVID." President Trump's 2026 budget request outlines deep cuts to domestic agencies, including a 22.6% cut in spending for the 2025 fiscal year, and significant reductions to environmental and renewable energy programs, early childhood education, and foreign aid. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on Corporate America leaving more jobs unfilled and Bloomberg's analysis of how tariffs will impact Hollywood.
Bloomberg Surveillance