Bloomberg Surveillance TV: October 1, 2024
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 1 October 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
- Seema Shah, Principal Asset Management Chief Global Strategist
- Rep. Lisa McClain (R-MI), Chairwoman of Financial Services Oversight Subcommittee
- Neil Dutta, Renaissance Macro Research Head of US Economic Research
Seema Shah of Principal Asset Management says a recession is unlikely over the next 18 months. Representative Lisa McClain says the economy is crucial for voters, particularly in her swing state of Michigan. Neil Dutta of Renaissance Macro Research believes growth may not be strong enough to keep the unemployment rate from rising.
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Transcript
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| 0:00.0 | There's a rhythm in the markets, in the resonant echoes of the opening bell, in the preludes leading to |
| 0:05.8 | global elections, in the rising course conducted by AI. And if you want to learn to listen for it, |
| 0:12.1 | we'll show you how. |
| 0:13.5 | Learn more at Bloomberg.com. |
| 0:15.0 | Bloomberg Audio Studios. |
| 0:19.5 | Podcasts, Radio News. |
| 0:29.0 | This is the Bloomberg Surveillance Podcast. I'm Jonathan Ferro, along with Lisa Abramowitz and Anne Marie Hordern. |
| 0:33.0 | Join us each day for insight from the best in markets, economics and geopolitics. |
| 0:37.0 | From our global headquarters in New York City, we are live on Bloomberg Television weekday mornings |
| 0:42.0 | from 6 to 9 a.m. Eastern. |
| 0:43.8 | Subscribe to the podcast on Apple, Spotify or anywhere else you listen. |
| 0:47.8 | And as always on the Bloomberg Terminal and the Bloomberg Business App. |
| 0:51.0 | We begin this out with US stocks posting four consecutive quarters of gains, the longest |
| 0:55.2 | streak since 2021. |
| 0:57.2 | C.M. Sharp, of Principal Asset Management writing this, the attractiveness of cash has declined. |
| 1:02.2 | There is some $64 trillion dollars currently in |
| 1:04.8 | money market funds potentially representing an important tailwind for risk |
| 1:08.9 | assets. Seema joins us now for more. Seema, you sound bullish. Walk me through why and where that cash is going to go. |
| 1:16.3 | Sure so yes we are bullish I want I don't say overly bullish we're very cognizant of the number |
| 1:22.1 | of risks out there but I think what we're really basing it on is you have a global monetary stimulus cycle in play. |
| 1:28.0 | You have a federal reserve, which, yes, very, very cloud and very difficult to navigate its way with all the uncertainties that you've been talking about with regards to the data. |
| 1:36.7 | But they are very much committed to soft landing. |
... |
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