Bloomberg Surveillance

Henrietta Treyz, a strategic advisor at Veda Partners and expert on U.S. political and economic dynamics, delves into the implications of a government shutdown on presidential priorities. She highlights how such events redirect focus internationally while predicting a renewed emphasis on economic matters as new data emerges. Additionally, Treyz discusses the unexpected longevity and productivity of older server technology, suggesting that these systems are still driving value, reshaping trends in tech investments.

Torsten Slok, Chief Economist at Apollo Global Management, predicts mixed economic data post-shutdown and warns about inflation risks. Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, explores how Nvidia's earnings could influence market trends and the tech sector's health amidst consumer struggles. Terry Haines, Founder of Pangaea Policy, discusses the U.S. strategy for leveraging trade negotiations with China and India, particularly regarding Russia sanctions. Stephen Parker from J.P. Morgan offers insight on the AI-driven investment landscape and portfolio strategies for inflationary pressures.

Michael Purves, CEO of Tallbacken Capital Advisors, dives into market positioning and the implications of AI on capital spending. He explains how stocks are reacting to delayed economic data and discusses a K-shaped economy. Glenn Hubbard, former Dean of Columbia Business School, assesses the Fed's challenges and the ambiguous impact of AI on the labor market and productivity. Meanwhile, Sir Howard Stringer reflects on the BBC crisis, advocating for its public funding to maintain trust, and explores the challenges facing modern media.

Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, shares warnings against market chasing amid breadth deterioration and highlights cautious investor sentiment. Bill Beach, Former Bureau of Labor Statistics Commissioner, discusses challenges in data collection post-shutdown that may impact economic indicators. Kelly Ann Shaw, former White House senior trade advisor, explains the administration's evolving tariff strategy amid public skepticism. Darrell Cronk, CIO for Wells Fargo Wealth & Investment Management, outlines his 'three I's' and advises on portfolio positioning as market dynamics shift.

Seema Shah, Chief Global Strategist at Principal Asset Management, shares insights on market volatility and Fed rate cut probabilities, emphasizing earnings strength as a stabilizing force. Francisco Blanch, from Bank of America Securities, discusses the bullish outlook on copper and silver due to AI demand, while explaining U.S. gas price dynamics amidst rising LNG exports. Hessam Nadji, CEO of Marcus & Millichap, analyzes the resurgence of retail real estate and the nuances between urban and suburban performance, highlighting the impact of improving financing conditions.

Tiffany Wilding reveals that a government shutdown could cut Q4 GDP growth by up to 1.5%, but a recovery may be on the horizon. She also highlights how large refund checks will boost consumer spending in the first quarter. Keith Lerner shares insights on the global market, noting over 90% are above the 200-day moving average, indicating a strong uptrend. He discusses sector rotation away from tech and the rise of emerging markets, which are approaching all-time highs. The role of AI in news reporting is also explored.

Keith Lerner, CIO at Truist Advisory Services, discusses the bullish outlook for the remainder of 2025, linking it to strong profit trends despite weaker job data. Lisa Hornby, Head of US Fixed Income at Schroders, predicts a potential Fed rate cut in December, emphasizing the implications for corporate credit and municipal bonds. Kristina Campmany from Invesco highlights the noisy economic data post-shutdown, along with opportunities from yield curve steepening, and the intertwined nature of global rates and corporate issuance.

Tiffany Wilding, Managing Director at PIMCO, discusses how data delays from the recent government shutdown complicate Federal Reserve forecasting and potentially impact GDP growth. Political scientist Wendy Schiller analyzes the surprising bipartisan support for the shutdown compromise, citing protections for vulnerable groups. Kimberly LaPointe from Macquarie Asset Management reveals the benefits of private infrastructure investing, highlighting its value for wealth clients seeking diversification and stable returns amidst economic shifts.

Russ Brownback, a fixed-income portfolio manager at BlackRock, shares his insights on potential Fed rate cuts and the impact on cash migrating into longer-duration bonds. He emphasizes strategies for income harvesting in a changing bond market. Tom Keene contextualizes Brownback's ideas within current market trends, while Jay Hatfield from Infrastructure Capital Advisors forecasts an S&P 500 target of 7700 for the upcoming year, stirring discussions on tech valuations and market rotations.

Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, discusses the impact of AI on the labor market and how lower rates could stimulate housing and job growth. Jon Lieber from The Eurasia Group dives into the repercussions of a possible government shutdown on economic data and policymaking, while Matt Miskin, Co-Chief Investment Strategist at Manulife, analyzes how weak job data and AI are influencing market sentiment. Together, they explore investment strategies amidst current economic challenges.