Bloomberg Surveillance Bloomberg Surveillance TV: December 18, 2024
Dec 18, 2024
Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, shares insights on market trends and warns of a wave of policy proposals impacting investor confidence. Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, discusses her anticipation of increased market volatility. Anna Nikolayevsky, Founder of Axel Capital Management, highlights a consumer slowdown as people shift towards cost-saving measures, reiterating the challenges facing the technology sector and its implications for investment strategies.
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Constrained Fed Action
- Further Fed action will likely be constrained in 2025 due to resurfacing inflationary pressures.
- Four months of accelerating core CPI data and a potential bottoming out of oil prices suggest inflation could be sticky.
Demand and Supply Dynamics
- Demand may outstrip supply, driven by interest rate-insensitive large corporations and wealthy households.
- This strong consumption from the top end has fueled the economy for two to three years.
Policy Uncertainty
- A potential "machine gun" of policy proposals could undermine market sentiment and create uncertainty.
- This barrage of proposals could negatively impact the low-end consumer and smaller companies, especially given no tax cuts expected in 2025.