Bloomberg Surveillance

Bloomberg Surveillance TV: April 24, 2025

Apr 24, 2025

Philip Lane, Chief Economist at the European Central Bank, shares insights on trade uncertainty and its impact on economic resilience in Europe. Jenny Johnson, CEO of Franklin Templeton Investments, discusses the importance of asset allocation amidst volatile market conditions influenced by trade policies. Both delve into how investors perceive opportunities despite geopolitical tensions and the evolving landscape of global trade. Their conversation emphasizes the importance of strategic investment moves in navigating the complexities of today’s financial environment.

32:13

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Episode guests

Jenny Johnson

Philip Lane

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Episode notes

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Quick takeaways

The uncertainty of U.S.-China tariff negotiations is reshaping market expectations and heightening recession fears among investors and analysts alike.

The European Central Bank remains cautiously optimistic about the resilience of the European economy, despite ongoing trade uncertainties and external challenges.

Deep dives

Impact of U.S.-China Tariff Negotiations

U.S.-China tariff negotiations have significantly influenced financial markets, creating a scenario where the administration appears to negotiate with itself. Analysts have observed that the uncertainty surrounding tariffs is causing companies to adjust their earnings outlook, leading to revised growth expectations. Retailers' warnings about potential empty shelves have prompted the administration to consider scaling back tariff increases, affecting overall market sentiment. This backdrop has led to a delicate balance, as the financial markets are pushing for moderation while the administration is caught in a cycle of changing strategies.

Intro

2min

Negotiations and Economic Uncertainty

6min

Economic Optimism and Investment Strategies for the 2020s

4min

Global Asset Allocation Strategies

12min

Shifting Trade Dynamics

5min

Navigating Market Uncertainty

6min

Navigating Market Changes and Support for Small Businesses

2min

- Ed Yardeni, President at Yardeni Research
- Nicolai Tangen, CEO of Norges Bank Investment Management
- Philip Lane, Chief Economist at ECB
- Jenny Johnson, CEO of Franklin Templeton Investments

Ed Yardeni, President at Yardeni Research, discusses his equity outlook, whether he's revising his S&P 500 target as tariffs continue to be negotiated, and if he believes the US will enter a recession. Nicolai Tangen, CEO of Norges Bank Investment Management, discusses the global economic outlook as globalization and US tariffs reshape global investing. Philip Lane, Chief Economist at ECB, joins to talk about whether investors are turning bullish on Europe despite trade uncertainty with the US. Jenny Johnson, CEO of Franklin Templeton Investments, discusses asset allocation as the investing and business environment remains highly uncertain and volatile.

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