Bloomberg Surveillance

Shahab Jalinoos, Credit Suisse's global head of FX strategy, says financial markets have scaled back interest in foreign trade and have reverted to complacency. Jeffrey Rosenberg, BlackRock's chief fixed-income strategist, says it's unlikely Americans will see 3% economic growth. Julian Emanuel, the executive director of U.S. equity and derivatives at UBS, says the bull market will continue. Ashwin Alankar, Janus Capital's global head of asset allocation, says the options markets are telling us that Trump's pragmatic thinking will prevail. Finally, Brian Kelly, founder of The Points Guy, says people are moving from airline to credit card loyalty programs.See omnystudio.com/listener for privacy information.

Alabama Rep. Mo Brooks says Trump's proposed budget aims to prevent the U.S. from sliding into insolvency. Prior to that, Gabriela Santos, JPMorgan Asset Management's global market strategist, says global risks have receded. Donald Straszheim, Evercore ISI's head of China research, says China's debt is still a mystery. Zeke Emanuel, the chair of medical ethics and health policy at the University of Pennsylvania, says Trump's American Health Care Act is cruel. Finally, Tom Ricks, the author of "Churchill & Orwell: The Fight for Freedom," criticized the assault on a reporter by a Montana politician as "un-American."See omnystudio.com/listener for privacy information.

Mary Jo White, the former SEC Chair, says class warfare against Wall Street isn't healthy. Prior to that, Michael Wilson, Morgan Stanley's chief U.S. equity strategist, says markets will eventually have a tougher time. Stan Collender, MSLGROUP's executive vice president, says Trump's budget could set up a government shutdown in the fall. Francisco Blanch, the head of global commodities research at Bank of America Merrill Lynch, says OPEC can't afford a price war. Finally, Rep. Tom Cole, a republican from Oklahoma, says Trump is making a big mistake with NIH and CDC cuts in his budget.See omnystudio.com/listener for privacy information.

Former CIA Director James Woolsey says we must recognize that we're at war with terrorists and that reorganization of the intelligence community has produced people that are less trained. Prior to that, Stephen Roach, a professor at Yale University, says the U.S. is growing beyond its means. Jan Schakowsky, a representative from Illinois, says she hopes Trump's budget proposal is "dead on arrival." Daniel Kurtzer, the former U.S. ambassador to Israel, says Trump's speech in Jerusalem conveyed that a larger force will act against terrorism. Steve Rattner, Willett Advisors' chairman, says Silicon Valley feels unloved by the Trump administration. Finally, Bloomberg's Svenja O'Donnell discusses the Manchester attack and its potential Brexit impact.See omnystudio.com/listener for privacy information.

President Trump delivers a speech in Jerusalem and says that Iran must immediately stop backing terrorism. Prior to that, Jerome Schneider, PIMCO's head of short-term and funding desk, says we should be preparing for rates moving higher. Jurrien Timmer, Fidelity Investments' director of global macro, says global equities will outperform the U.S. Bruce Bartlett, a historian and author who served as a domestic policy adviser to Ronald Reagan, says Republicans are having a hard time compromising with themselves. Finally, Karen Mills, the former administrator for the Small Business Administration, says small businesses are anxious waiting for new tax legislation. (Corrects spelling of Karen Mills' name.)See omnystudio.com/listener for privacy information.

NATO Secretary General Jens Stoltenberg says President Trump has told him that he is strongly committed to NATO. Prior to that, Robert Hormats, Kissinger Associates' vice chairman, says Merkel is the leader of the G-7 now. Luigi Zingales, a professor at University of Chicago's Booth School of Business, says Republicans have been missing in action in keeping Trump in check. Finally, Max Baucus, a former senator and U.S. Ambassador to China, says the rule of law is beginning to take over with the appointment of a special counsel for the Russia investigation.See omnystudio.com/listener for privacy information.

Apr.29 (Bloomberg) -- Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission, interviews Jeffrey Sachs, Columbia University professor of economics on "A Closer Look With Arthur Levitt." To contact the producer and editor: Michael Lysak +1-212-617-5560 or acloserlook@bloomberg.netSee omnystudio.com/listener for privacy information.

George Papaconstantinou, the former Finance Minister of Greece, says there's deep-seated resistance to debt relief. Chris Grisanti, the founder of Grisanti Capital Management, says he's positive on oil. Finally, Greg Valliere, Horizon Investments' chief political strategist, says the odds favor the House keeping control in midterm elections.See omnystudio.com/listener for privacy information.

Ron Hosko, the former assistant director of the FBI, says it's standard practice of every FBI agent to take notes in longer interviews and convert them to memos. Henry Kaufman, the president of Henry Kaufman & Company, says we haven't fully succeeded in deleveraging. Steve Rattner, Willett Advisors' chairman, says the media is overreacting on the legal side when it comes to President Trump. Finally, Helena Kennedy, a member of the House of Lords, says it will take a decade to resolve Brexit issues.See omnystudio.com/listener for privacy information.

As part of Infrastructure Week 2017, Bloomberg gathered federal and local leaders in Washington DC for a conversation on the critical challenges facing cities and states around the country. David Gura spoke with Nashville Mayor Megan Barry, Congresswoman Elizabeth Esty & Columbus Mayor Andrew Ginther. Amy Morris and Alan Bjerga spoke with DC Mayor Muriel Bowser, Charlotte Mayor Jennifer Roberts and New Bedford Mayor Jon Mitchell.See omnystudio.com/listener for privacy information.