Bloomberg Surveillance

Bloomberg Surveillance TV: June 21, 2024

Jun 21, 2024

Guests discuss Fedspeak impact on treasuries, European economic uncertainty, US unemployment risks, softening labor market, and Citi's rate cut prediction

30:02

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Quick takeaways

European equities face risks from weakening growth expectations, emphasizing cyclical vulnerabilities.

Investing in defensive sectors like food and beverages in Europe offers potential amidst economic uncertainties.

Market risks heighten due to weakening economic data trends, prompting cautious outlook on risk assets.

Deep dives

Market Projections on European Equities

Sebastian Riedler of Lynch projects negative sentiments towards European equities due to expectations of weakening growth in the region. Despite optimistic views, the potential decline in growth momentum stemming from monetary tightening's delayed impact raises concerns. This perspective highlights vulnerabilities in European equities, emphasizing cyclical risks and potential economic disappointments.

Intro

2min

Navigating Economic Uncertainty in Europe and Defensive Sectors

5min

Analyzing the European macroeconomic situation and political influences on the market

2min

Shift Towards Long Bonds and Risk-Off Behavior in Markets

8min

Analyzing Market Trends and Conviction Levels in Bond Trading

2min

Analyzing Current Economic Trends: Labor Shortages and Inflation Drivers

11min

Analyzing Consumer Behavior, Fed Strategy, and Economic Implications

4min

Katy Kaminski of AlphaSimplex discusses recent Fedspeak and the potential for treasuries to recover from this year’s losses. Sebastian Raedler of BofA Merrill Lynch updates on European economic uncertainty, highlighting risks across equity markets due to exceptionally low US unemployment rates. Veronica Clark of Citi and Dana Peterson of The Conference Board offer perspectives on the softening labor market, along with Citi’s prediction of a rate cut in September.

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