Bloomberg Surveillance Stocks Struggle as Gold Rout Deepens
11 snips
Oct 22, 2025 
Wei Li, Global Chief Investment Strategist at BlackRock, shares insights on corporate earnings and the U.S. economy, emphasizing the importance of quality profits. Ed Morse, commodities strategist at Hartree Partners, examines the dynamics behind falling oil prices and predicts a potential supply glut. Elizabeth Economy, a Stanford expert on China, discusses the implications of the U.S.-China trade relationship, military developments, and Taiwan's crucial role in semiconductor production. Together, they unpack the complexities of today's financial landscape.
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AI Earnings Drive Large-Cap Outperformance
- Wei Li says mega-cap tech earnings have largely justified their market outperformance this year.
- She warns phase two of capex is more capital-intensive and timing will determine returns.
K-Shaped Market Divergence Persists
- Wei Li describes a K-shaped recovery where large caps thrive while small players struggle.
- She expects this divergence to persist, requiring selective risk deployment.
Tactically Overweight Long-Duration Treasuries
- Wei Li recommends leaning into long-duration U.S. Treasuries tactically as the Fed appears ready to cut.
- She advises locking in attractive real yields while the market narrative favors rate cuts.
