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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.

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or anywhere else you listen. And as always, on the Bloomberg Terminal and the Bloomberg Business app. We begin this app with stocks holding at record highs as optimism grows over an end to the war. Darius down at 42 Macro writing the 12-month outlook is bullish. The next few months, however, may prove volatile. Daris joins us now for more. Darius, good morning. Good to see you. Oh, great to see you, John. Thank you. Welcome to the program as well. What's going to be the

source of that volatility? Well, I think we're not out of the wood yet as relates to the trade of Hormuz dynamic. And we also have the return of credit bills positioning across global financial markets. So if we get another axiose headline that is leaking in the wrong direction, then you can have a little bit more volatility.

But when you take a medium-term view on the markets

and on the economy, things are about as good

as they've been in a really long time, I'd say since early 2021.

...