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Bloomberg Audio Studios Podcasts, Radio News.

This is the Bloomberg Surveillance Podcast.

I'm Jonathan Ferro, along with Lisa Abramwitz and Anne-Marie Hordern.

Join us each day for insight from the best in markets, economics and geopolitics.

From our global headquarters in New York City, we are live on Bloomberg Television

weekday mornings from 6 to 9 a.m. Eastern. Subscribe to the podcast on Apple, Spotify,

or anywhere else you listen. And as always, on the Bloomberg Terminal and the Bloomberg Business Out. We begin this hour with stocks struggling to rally following back-to-back losses. Cameron Dawson of New Edge Wealth, writing equities became overbought and narrow, with an upside driven by a small cohort of names. This was a recipe for a pause in the recent powerful moves. Cameron joins us now for more. Cam, good morning. Is that what this is, just a pause or something more than that? Well, it's perfectly normal

and perfectly prudent to see markets pause after having what was a very parabolic advance

and a narrow cohort of names that were driving the vast majority of the upside in the overall

market because they became such

a huge weight in the index. And we were seeing certain extremes in some of this trading. You saw

...