Bloomberg Surveillance TV: May 9, 2024
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 9 May 2024
⏱️ 26 minutes
🧾️ Download transcript
Summary
-Eric Freedman, US Bank Asset Management Chief Investment Officer
-David Lebovitz, JP Morgan Asset Management Global Strategist, Multi-Asset Solutions
-David Malpass, Fmr. Under Secretary of the US Treasury for International Affairs & Fmr. President of the World Bank
US Bank's Eric Freedman says the 'punishing' equity market favors the equal-weight S&P 500 index and brings risks to small-cap stocks. David Lebovitz of JP Morgan says 'the overall direction of the labor market and the wage data is supportive of some easing later this year.' Former World Bank President and Treasury Department official David Malpass believes the next US president faces a 'perfect storm' of economic issues, saying 'uncertainty is what's prevailing' in the economy.
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Transcript
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| 0:00.0 | The countdown has begun. |
| 0:02.0 | From May 14th to 16th, a thousand global leaders will gather in Doha for the Carter Economic Forum powered by Bloembach. |
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| 0:24.2 | Request your invite for this exclusive event at cuttereconomicforum.com. Bloomberg Audio Studios. |
| 0:34.0 | Podcasts, Radio News. |
| 0:37.0 | This is the Bloomberg Surveillance Podcasts I'm Jonathan Ferro along with Lisa |
| 0:45.6 | Abramowitz and Amri Hordern. Join us each day for insight from the best in markets, |
| 0:50.3 | economics and geopolitics. From our global headquarters in New York City, |
| 0:54.0 | we are live on Bloombo Television weekday mornings from 6 to 9 a.m. Eastern. Subscribe to the podcast on Apple, Spotify, or anywhere else you listen. |
| 1:02.6 | And as always on the Bloebo Terminal and the Bloebok Business app. |
| 1:06.2 | Eric Friedman of US Manch Asset Management writing this. |
| 1:09.3 | We used equity and commodity market weakness in April to add to risk assets and sell bonds |
| 1:14.1 | leaving us overweight domestic equities and real assets and underweight fixed |
| 1:18.7 | income. Eric joins us now for more. Eric great to see you sir in your words you've been trading up a storm. |
| 1:24.0 | Can you walk us through what you've been doing and why? Yeah we've been active Jonathan I think it's been |
| 1:29.5 | an environment where we've been using price weakness to really bolster our thesis if you will |
| 1:34.2 | that we think corporate earnings will deliver this year. We also want to be |
| 1:38.2 | protected against with we think maybe an recipient inflation environment. So, you know, we've looked at equal weight S&P |
| 1:45.6 | is our more favored choice right now, |
| 1:47.6 | just with a viewpoint that we want to stay in large cap, |
| 1:49.8 | we want to stay domestic, |
... |
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