Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Bob Michele & Gautam Mukunda.

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- US Commerce Secretary Howard Lutnick
- Bob Michele, CIO: Fixed Income at JPMorgan Asset Management
- George Saravelos, Global Head: FX Research at Deutsche Bank
- Monica Guerra, Head of US Policy at Morgan Stanley

US Commerce Secretary Howard Lutnick joins for an extended discussion on President Trump's tariff and trade policies. Bob Michele of JPMorgan Asset Management discusses how the bond market is weighing the risks of the US-led trade war. Monica Guerra of Morgan Stanley outlines how traders should position themselves for the specifics of President Trump's tariff strategy. George Saravelos, Global Head: FX Research at Deutsche Bank, talks about his research notes outlining the FX impact of tariffs.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 5th, 2025
Featuring:
1) Bob Michele, CIO: Fixed Income at JPMorgan Asset Management, joins for an extended discussion on bonds and fixed income, and warning signals following the implementation of President Trump's tariffs. The dollar fell to a three-month low due to concerns about the negative impact of US tariffs on the economy, with losses particularly stark against the euro. The dollar's downward trend is fueled by concerns that a global trade war - prompted by Trump's tariffs - will weigh on economic growth.
2) Terry Haines, founder at Pangaea Policy, reacts to President Trump's address to Congress and how it could ripple through markets. President Trump defended his tariff plan, saying it would raise "trillions and trillions" in revenue and rebalance trading relationships, despite acknowledging potential economic pain.
3) Brian Belski, Chief Investment Strategist at BMO Capital Markets, joins for an extended discussion on whether it's time to stay in the market or rotate out of equities. Recent eco data showed that manufacturers are struggling with price pressures and uncertainty regarding tariffs and signaled a potential for a slowdown in US growth.
4) Regina Mayor, Global Head of Clients & Markets at KPMG, joins to talk about the potential for rising energy prices in the US and abroad and whether they could be lowered from the Trump administration's energy policies. President Trump's tariffs on imported goods from top trading partners are likely to increase the cost of home heat pumps, battery storage systems, and electric cars in the US.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature a conversation with Abby Joseph Cohen.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

See omnystudio.com/listener for privacy information.

- Julian Emanuel, Chief Equity & Quantitative Strategist at EvercoreISI
- Ed Mills, Washington Policy Analyst at Raymond James
- Everett Eissenstat, Former Deputy Director for the National Economic Council
- Kit Juckes, Chief FX Strategist at Societe Generale

Julian Emanuel of EvercoreISI discusses his S&P target and how the market could be reshaped by tariffs and geopolitical uncertainty. Ed Mills, Washington Policy Analyst at Raymond James, joins to discuss the severity of President Trump's economic and trade policies. Eerett Eissenstat, Former Deputy Director for the National Economic Council, talks about how tariffs could affect the US and global economies and whether President Trump could change course. Kit Juckes at Societe Generale talks about currency moves amid a US-led trade war.

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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 4th, 2025
Featuring:
1) Brendan Murray, Bloomberg News Trade Tsar, joins to discuss the economic fallout of the US-led trade war. President Donald Trump imposed 25% tariffs on most Canadian and Mexican imports and raised the charge on China to 20%, affecting roughly $1.5 trillion in annual imports. Canada and China have retaliated with their own tariffs as Mexico weighs what it's next move will be.
2) Barbara Reinhard, CIO: Multi Asset Strategies & Solutions at Voya Investment Management, discusses why she believes it's time to buy equities and why European fundamentals look positive. Stocks in Europe retreated due to concerns over potential US tariffs, with investors watching for hints on future trade steps in President Trump's address to Congress today, as well as China's response to US tariffs.
3) Abby Joseph Cohen, professor at Columbia Business School, joins for an extended discussion on the economic policies of a second Trump administration and the risks of cutting government research funding. New levies mark President Trump’s biggest push to remake global trade, and the Department of Government Efficiency (DOGE) is reshaping government spending with unclear economic consequences.
4) Jean Boivin, Head of the BlackRock Investment Institute, talks about how his group is navigating market and geopolitical uncertainties amid a market selloff. It comes with the US yield curve steepening as President Trump's tariff threats came to fruition.
5) Lisa Mateo breaks down the latest headlines in newspapers across the US, including what could get more expensive under Trump tariffs, vendors advertising tariff-free products, and Chipotle announcing it'll foot the bill on tariff hikes.

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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with Peter Trubowitz & David Bahnsen.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

See omnystudio.com/listener for privacy information.