Bloomberg Surveillance Bloomberg Surveillance TV: July 25th, 2025
5 snips
Jul 25, 2025 
Jason Thomas, Head of Global Research & Investment Strategy at Carlyle Group, and Gregory Daco, Chief Economist at EY Parthenon, dive into the complexities of the U.S. economic landscape. They discuss the outlook for U.S. markets, dissect inflation trends, and explore labor market dynamics. Thomas sheds light on Federal Reserve independence and market volatility, while Daco analyzes the implications of inflation on consumer behavior. Together, they paint a vivid picture of the evolving financial terrain amidst economic challenges.
AI Snips
Chapters
Transcript
Episode notes
AI Drives Industrial Capital Shift
- AI-focused capital spending has shifted large companies to be more like industrial firms.
- This physical investment now accounts for over 70% of their book value, up from 20% pre-pandemic.
Labor Market Resilience Amid Tariffs
- The labor market remained resilient despite tariff shocks in 2025.
- CEOs slowed hiring slightly but did not significantly reduce open job positions.
AI Boosts Stocks but Challenges Bonds
- Equity markets benefit from AI's potential earnings upside and inflation hedging.
- Bond markets struggle amid widened fiscal deficits consuming private sector savings.