Bloomberg Surveillance

Bloomberg Surveillance TV: April 29, 2024

Apr 29, 2024

Guests Lori Calvasina, Mark McCormick, and Sonal Desai discuss swings in tech stocks, movements in the Japanese Yen, Fed decision preview, and outlook on the bond market. Topics include growth concerns, inflation perspective, FX market dynamics, rate cuts expectations, and challenges in buying Treasuries.

24:21

Creator website

Episode guests

Sonal Desai

Mark McCormick

Lori Calvasina

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Stock reactions indicate investor anxiety over growth rate deceleration in tech giants.

Japanese authorities may need to tighten policy to address historic movements in the yen.

Deep dives

Stock reactions to earnings data revealing growth deceleration

The podcast delves into how stock reactions indicate a deceleration in growth rates. Forecasts based on bottom-up consensus suggest a drop from 35% in 2023 to around 15% in 2025 for the basket of top companies. Despite solid growth, investors seem wary when powerful momentum stocks experience a decline in growth rates, leading to tense stock price reactions.

Introduction

2min

Evaluating Small Cap Stocks and Market Trends

5min

Exploring Current Corporate Views on Inflation and Market Dynamics

2min

Analyzing Recent Movements in the Dollar Yen Exchange Rate

8min

Analysis of Strong Growth, Central Bank Changes, and Policy Shocks in the FX Market

3min

Rate Cuts Expectations and Fiscal Pressures

7min

Challenges in Buying Treasuries and Economic Growth

2min

-Lori Calvasina, Head of US Equity Strategy, RBC Capital Markets
-Mark McCormick, Global Head of FX Strategy, TD Securities
-Sonal Desai, Fixed Income CIO, Franklin Templeton

Lori Calvasina of RBC Capital Markets reacts to big swings in mega-cap tech stock prices, saying "growth investors get angsty." Mark McCormick of TD Securities discusses the historic moves in the Japanese Yen, saying the BOJ will be forced to tighten policy more than what's currently priced-in. Sonal Desai of Franklin Templeton previews Wednesday's Fed decision and shares her outlook on the bond market, saying the long end of the yield curve will move higher over time.

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