Bloomberg Surveillance cover image

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

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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.

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