Bloomberg Surveillance Bloomberg Surveillance TV: May 7, 2025
May 7, 2025
Priya Misra, a Portfolio Manager at JPMorgan Asset Management, shares insights on bond market signals pointing to inflation and slower growth. Keith Lerner, Co-CIO at Truist, offers his perspective on the current equity landscape. Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, discusses his S&P 500 target amidst ongoing trade deal uncertainties. The conversation explores economic shifts, market volatility, and the intricate relationship between monetary policy and investment strategies in a fluctuating environment.
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Market Faces High Uncertainty
- Investors face high uncertainty due to ongoing trade deal negotiations and elevated stock valuations.
- Growth is expected to slow to around 0.9% this year amid sustained high tariffs and cautious optimism.
Stagflation Theme Priced In
- Markets have already priced in a stagflation scenario characterized by sector declines.
- Long-term focus remains on technology-led growth despite short-term economic challenges.
Fed Constraints and Rate Cuts
- The Fed is constrained but likely believes inflation slowdown is transitory.
- Market positioning assumes fewer rate cuts than currently priced, which could be positive if realized.