Bloomberg Surveillance

Bloomberg Surveillance TV: July 8, 2024

Jul 8, 2024

Pierre Ferragu downgrades NVDA, Democrats urge Biden to step aside, bond market rally after US payroll data. Speculation on interest rate cut, labor market conditions, tailored insurance coverage, and potential Democratic candidates. Analysis of Trump's base, NVIDIA's AI business growth, and tech sector capex concerns.

20:06

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Quick takeaways

Balancing inflation and labor market dynamics is crucial for the Federal Reserve's potential interest rate decisions.

Potential political shifts within the Democratic Party could impact the 2024 election outcome.

Deep dives

Federal Reserve Discussion on Interest Rates

The podcast episode discusses the Federal Reserve's potential actions regarding interest rates based on economic data. The speakers suggest that while there is evidence supporting a discussion on interest rates, a decision might not be made in the July meeting but could occur by September. The focus seems to be shifting towards protecting the labor market while still considering inflation. The podcast highlights the importance of balancing inflation and labor market dynamics.

Intro

2min

Navigating Economic Data and Labor Market Considerations

7min

Discussing Sophisticated Financial Solutions and Tailored Insurance Coverage for Businesses

2min

Speculation on President Biden stepping aside and rise of Democratic candidates

5min

Analysis of Democratic Party and Trump's Base, Advertisements from Financial Services and Insurance Companies

3min

NVIDIA's AI Business Growth and Future Predictions

4min

Insights from an Independent Tech Analyst and Market Overview

3min

-Pierre Ferragu, New Street Research Managing Partner
-Henrietta Treyz, Veda Partners Director Economic Policy Research
-Zachary Griffiths, CreditSights Head of US IG & Macro Strategy
-Rubeela Farooqi, High Frequency Economics Chief U.S. Economist

Pierre Ferragu of New Street Research discusses his call to downgrade NVDA from buy to neutral on valuation. Henrietta Treyz of Veda Partners discusses Democrats calling for Biden to step aside. Zachary Griffiths of CreditSights and Rubeela Farooqi of High Frequency Economics discuss the bond market rally following US payroll data and look ahead to CPI and PPI data.

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