Bloomberg Surveillance Bloomberg Surveillance TV: January 7th, 2026
10 snips
Jan 7, 2026 
John Bilton, Global Head of Multi-Asset Solutions at JPMorgan, shares insights on the equity outlook and the importance of diversifying beyond concentrated tech investments, emphasizing the role of commodities in the economic recovery. Jonathan Tamari, a Bloomberg Congress reporter, discusses the challenges Republicans face in healthcare reform and the implications of narrow majorities as they prepare for the midterms. Both guests explore the evolving political and economic landscape, highlighting key indicators to watch for in 2026.
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Concentration Risk In U.S. Portfolios
- U.S. portfolios are highly concentrated in a few tech names, creating historic concentration risk.
- International markets show lower valuations and higher earnings growth that can diversify equity exposure.
Manage Cash As An Asset Class
- Treat cash as an asset class and aggregate it to manage yield.
- Move idle cash into treasuries or a blended cash portfolio to capture materially higher yields.
Rebalance Instead Of Letting Winners Run
- Aggregate accounts and enforce diversification rather than letting winners run unchecked.
- Rebalance concentrated tech positions into dividend, pharma, energy, or international exposures in 2026.