Bloomberg Surveillance

John Stoltzfus, Oppenheimer Chief Investment Strategist, explains the reasoning behind his street-high S&P target of 5,330. Daniel Skelly, Morgan Stanley Wealth Management Head of Market Research & Strategy, discusses the factors behind the firm's 4,400 S&P call. Michael Gapen, Barclays Chief Economist, reacts to the jump in U.S. PPI. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, says credit is "all good, except the yield." Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, discusses the Covid-19 omicron variant and the importance of first and second vaccine doses for the unvaccinated over booster shots.See omnystudio.com/listener for privacy information.

Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, says stocks are still the best game in town for 2022. Michael Collins, PGIM Fixed Income Senior Portfolio Manager, says a totally flat yield curve is already priced in. Wei Li, BlackRock Investment Institute Global Chief Investment Officer, says support must continue to ramp up in China because of the deteriorating growth. Joshua Sharfstein, Johns Hopkins Bloomberg School of Public Health Vice Dean, discusses the omicron variant and company vaccine mandates.See omnystudio.com/listener for privacy information.

Kathy Bostjancic, Oxford Economics Chief U.S. Financial Economist, expects inflation to get worse from here. Stephen Dover, Franklin Templeton Chief Market Strategist & Head of Franklin Templeton Investment Institute, discusses how the inflation surge reflects our shifting economy. Andrew Pekosz, Johns Hopkins Bloomberg School of Public Health Professor & Virologist, says the delta variant is nearing its peak in the U.S. just as we're seeing omicron begin to emerge. Andy Blocker, Invesco Head of U.S. Government Affairs, says there is a 75% chance that Build Back Better gets done.See omnystudio.com/listener for privacy information.

Gargi Chaudhuri, BlackRock Head of iShares Investment Strategy Americas, expects CPI data to be stronger than what is priced in to markets. Mark Cabana, Bank of America Head of Rates Strategy, says the Fed is not too happy about the shape of the yield curve. Glenn Hubbard, Columbia Professor of Economics & Former Chairman of the Council of Economic Advisers, says the labor market is in great shape and it's time for the Fed to adjust. Dr. Chris Beyrer, Johns Hopkins Bloomberg School of Public Health Professor and Epidemiologist, discusses real world data on Covid vaccines, natural immunity, and public policy response.See omnystudio.com/listener for privacy information.

Bill Dudley, Bloomberg Opinion Columnist and Former New York Fed President, expects a few more surprises from the next Fed meeting. Steve Major, HSBC Global Head of Fixed Income Research, says it's really difficult to believe that rates are going to get anywhere near the levels reached in the last cycle. Dean Curnutt, Macro Risk Advisors Founder & CEO, is seeing signs of chaos in the risk-free asset class. Gigi Gronvall, Johns Hopkins Center for Health Security Senior Scholar, says a third Covid vaccine dose is looking increasingly more important. David Rubenstein, Carlyle Group Co-Founder Co-Chairman and Host of "The David Rubenstein Show: Peer to Peer Conversations," discusses his interview with Hilton President & CEO Chris Nassetta.See omnystudio.com/listener for privacy information.

Tony Crescenzi, PIMCO Market Strategist, says the Fed won't give up it's hard-won credibility. Liz Ann Sonders, Charles Schwab Chief Investment Strategist, says markets have wrung out complacency, Ed Yardeni, Yardeni Research President, says productivity is making a huge comeback. Dr. Amesh Adalja, Johns Hopkins Center for Health Security Senior Scholar, discusses the Covid-19 omicron variant and vaccine mandates.See omnystudio.com/listener for privacy information.

Robert Tipp, PGIM Fixed Income Chief Investment Strategist, says the Fed has already shot all of its bullets. Sara House, Wells Fargo Corporate & Investment Banking Senior Economist, expects to see 7% CPI in the first quarter. Bill Lee, Milken Chief Economist, says President Xi has only gotten more powerful in China. Amrita Sen, Energy Aspects Founder & Research Director, says she wouldn't rule out a pause or a cut from OPEC.See omnystudio.com/listener for privacy information.

Marty Walsh, U.S. Secretary of Labor, says he feels good about where the U.S. economy is headed. Jeff Rosenberg, BlackRock Systematic Multi-Strategy Fund Portfolio Manager, discusses how the November jobs report could impact Fed policy. Tiffany Wilding, PIMCO Chief U.S. Economist, says the post-pandemic labor market could look very different from the pre-pandemic one. Andrew Pekosz, Johns Hopkins Bloomberg School of Public Health Professor & Virologist, says we expect more data about the omicron variant's transmissibility next week.See omnystudio.com/listener for privacy information.

Christyan Malek, JPMorgan EMEA Oil & Gas Research Head, says shale is in a straitjacket right now. Russ Koesterich, BlackRock Global Allocation Fund Portfolio Manager, says sectors are going to matter in the new year. Helane Becker, Cowen Senior Research Analyst, warns that there may be some airlines that won't be able to survive if the U.S. implements travel curbs similar to Europe. Mike Darda, MKM Chief Economist and Market Strategist, says the U.S. labor market is tightening at a rapid pace.See omnystudio.com/listener for privacy information.

This episode of Chief Future Officer focuses on Marriott International CFO Leeny Oberg. Shery Ahn explores how she's helping the world's largest hotel chain through a challenging period for the hospitality industry, facing labor shortages, changing customer expectations, and a sharp falloff in business travel due to the Covid-19 pandemic.See omnystudio.com/listener for privacy information.