Bloomberg Surveillance Bloomberg Surveillance TV: August 11th, 2025
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Aug 11, 2025 
Ryan Petersen, the Chairman and CEO of Flexport, dives into the world of tariffs and discusses how U.S. trade policies reshape business landscapes. Joining him is Eric Rosengren, the former President of the Federal Reserve Bank of Boston, who analyzes key economic data and the labor market's outlook, alongside potential rate cuts. Henrietta Treyz, co-founder at Veda Partners, critiques the Trump administration's trade policies and their economic repercussions, offering insights on the broader implications for U.S. financial strategies.
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Tech-Led U.S. Rally Is Narrow
- U.S. market gains are concentrated in a handful of mega-cap tech stocks while median names lag badly.
- That narrow leadership reduces domestic diversification and argues for more geographic diversification.
Europe Shows Breadth And Value Strength
- European markets are showing unusual breadth with value sectors, notably banks, outperforming.
- Fiscal expansion, defense and infrastructure spending are key drivers of the European improvement.
Tariff Impact On Inflation Is Lagging
- The full consumer-price effects of recent tariffs have yet to materialize and will weigh on confidence.
- That lagged impact raises downside risks to consumer-driven growth and could slow activity further.