Bloomberg Surveillance TV: May 30, 2024
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 30 May 2024
⏱️ 34 minutes
🧾️ Download transcript
Summary
-Robert Sockin, Citi Research Senior Global Economist
-Michael Cloherty, UBS Head of US Rates Strategy-Wamsi Mohan, BofA Securities Senior IT Hardware Analyst
-Lorenzo Simonelli, Baker Hughes CEO
Robert Sockin of Citi and Michael Cloherty of UBS react to US weekly jobless claims that exceeded estimates and discuss whether the Fed should reconsider its short-term interest rate target. Wamsi Mohan of BofA Securities explains why he raised his price target for Dell and how tech hardware companies are poised for success in the age of AI. Baker Hughes CEO Lorenzo Simonelli discusses what's next for the energy sector as new data from the EIA shows the US leading global oil production for the sixth straight year.
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Transcript
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| 0:00.0 | Bloomberg Audio Studios. |
| 0:04.2 | Podcasts, Radio News. |
| 0:07.0 | This is the Bloomberg Surveillance Podcast. I'm Jonathan Ferro, along with Lisa |
| 0:15.8 | Abramowitz and Anne Marie Hordern. Join us each day for insight from the best in |
| 0:19.8 | markets, economics and geopolitics. |
| 0:22.5 | From our global headquarters in New York City, |
| 0:24.7 | we are live on Bloomberg Television weekday mornings |
| 0:26.9 | from 6 to 9 a.m. Eastern. |
| 0:28.7 | Subscribe to the podcast on Apple, Spotify, |
| 0:31.2 | or anywhere else you listen. |
| 0:32.8 | And as always on the Bloombo Terminal and the Bloomburg Business app. |
| 0:36.4 | With us around the table, Citi's Rob Sockin, Michael Clarki of UBS. |
| 0:40.6 | Michael, to you first, your reaction to these numbers this morning. |
| 0:43.0 | Yeah, not much of a significant change. |
| 0:45.0 | So, you know, there has been a little bit of slowdown in growth |
| 0:48.0 | from the really hot numbers last year. |
| 0:50.0 | Still solid, and composition is still pretty good right now. |
| 0:54.4 | But do think that we're going to continue to get some slowing as we go forward. |
| 0:58.0 | I think one of the issues for the rates folks out there is everyone's been mesmerized |
| 1:02.0 | by this rise in the equity market |
| 1:04.0 | thinking that strong equities mean strong economy therefore high rates. |
| 1:08.3 | The problem with that is you know earnings were solid but an awful lot of this rally has been AI and |
... |
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