Bloomberg Surveillance Single Best Idea with Tom Keene: Ernie Tedeschi & Henrietta Treyz
Sep 2, 2025
Tom Keene dives into the bustling futures markets, highlighting contrasts with ETF liquidity. The discussion shifts to how recent economic changes are reshaping the bond market, especially with an eye on tariffs and inflation. Insights from Yale's Budget Lab reveal the intricate dance of global relations influenced by economic policies. As a potential government shutdown looms, the implications of consumer sentiment on price changes also take center stage.
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Futures Offer Near‑Around‑The‑Clock Liquidity
- Ernie Tedeschi notes equity futures trade near 24 hours with strong liquidity unlike ETFs after 4 p.m.
- He highlights futures provide trading opportunities both day and night.
Markets Shift Around Rising Yields
- Tom Keene highlights shifts in market focus tied to bond yields rising and global pricing down.
- He frames upcoming labor data and revisions as pivotal for market direction into September.
Tariffs Can Feel Like Persistent Inflation
- Ernie Tedeschi explains tariffs can act like gradual price increases that feel like ongoing inflation.
- He warns the Fed fears spillovers into supply chains could make tariff effects persistent.