Bloomberg Surveillance

Bloomberg Surveillance TV: May 9, 2024

May 9, 2024

US Bank's Eric Freedman discusses the challenging equity market, favoring the equal-weight S&P 500. David Lebovitz of JP Morgan emphasizes supportive labor market data for easing. Former World Bank President David Malpass warns of a 'perfect storm' of economic issues for the next US president, citing prevailing uncertainty in the economy.

24:08

Creator website

Episode guests

David Malpass

David Lebovitz

Eric Freedman

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Equity market favors equal-weight S&P 500 index, poses risks for small-cap stocks.

Labor market trends support easing later in the year, hinting at economic stability.

Deep dives

Asset Allocation Strategy in Current Market Environment

Eric Friedman of US Bank Asset Management discusses the shifting asset allocation strategy amidst market conditions. With a focus on adding to risk assets and selling bonds, the emphasis lies on overweighting domestic equities and real assets while underweighting fixed income. The rationale behind this strategic move is twofold: anticipating strong corporate earnings and positioning to hedge against potential inflationary pressures.

Introduction

2min

Strategic Trading in Current Economic Climate

5min

Market Analysis and Financial Planning Discussion

2min

Market Expectations and Global Economic Landscape

8min

Analysis of Fed Actions, Euro Strength, and Event Previews

2min

Navigating Tax Policy Uncertainties in D.C.

6min

Analysis of Federal Reserve Policies and Economic Growth

4min

-Eric Freedman, US Bank Asset Management Chief Investment Officer
-David Lebovitz, JP Morgan Asset Management Global Strategist, Multi-Asset Solutions
-David Malpass, Fmr. Under Secretary of the US Treasury for International Affairs & Fmr. President of the World Bank

US Bank's Eric Freedman says the 'punishing' equity market favors the equal-weight S&P 500 index and brings risks to small-cap stocks. David Lebovitz of JP Morgan says 'the overall direction of the labor market and the wage data is supportive of some easing later this year.' Former World Bank President and Treasury Department official David Malpass believes the next US president faces a 'perfect storm' of economic issues, saying 'uncertainty is what's prevailing' in the economy.

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