Equity Push as Bond Yields Rise
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 19 May 2026
⏱️ 30 minutes
🧾️ Download transcript
Summary
The latest in finance, economics and investment.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMonday, May 18, 2026
Featuring:
1) Monica DiCenso, Head: Global Investment Strategy at JPMorgan Private Bank, on the underappreciated upside of AI as market worries grow.
2) David Doyle, Head of Economics and Leads Americas Coverage at Macquarie, talks about rising inflation in the US and how it's being priced in to both equity and bond markets.
3) Joe LaVorgna, Chief Economist at SMBC Nikko Securities, talks about the president's economic agenda, tariffs, and how rising inflation could upend that, or if we're seeing disinflationary trends.
4) Michelle Meyer, Chief Economist and Head of Economics Institute at Mastercard, talks about the firms recent Global Travel report amid the backdrop of an increasingly uncertain economic picture.
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Transcript
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| 0:00.0 | When the rest of the markets slow down, the futures market keeps moving. |
| 0:04.9 | Did you know that CME Group S&P 500 and NASDAQ 100 futures trade nearly 24 hours with great liquidity? |
| 0:12.0 | In the ETF markets, volume and liquidity lessens after 4pm until the next morning. |
| 0:17.1 | But with futures, you get trading opportunities both day and night. |
| 0:21.1 | Learn more at CMEgroup.com slash equity futures. |
| 0:26.8 | Some follow the noise. |
| 0:29.3 | Bloomberg follows the money. |
| 0:31.5 | Because behind every headline is a bottom line. |
| 0:35.3 | Whether it's the funds fueling AI or crypto's trillion dollar swings, |
| 0:40.0 | there's a money side to every story. And when you see the money side, you understand what others miss. |
| 0:46.9 | Get the money side of the story. Subscribe now at Bloomberg.com. |
| 0:58.1 | Bloomberg Audio Studios Podcasts Radio News. |
| 1:05.8 | This is the Bloomberg Surveillance Podcasts. |
| 1:09.2 | Catch us live weekdays at 7 a.m. Eastern on Apple CarPlay or Android Auto with the Bloomberg |
| 1:14.8 | business app. |
| 1:16.1 | Listen on demand wherever you get your podcasts or watch us live on YouTube. |
| 1:21.2 | Monica DeSenzo joins us now. |
| 1:24.0 | I had a global investment strategy, GP Morgan, private bank. What are fancy people doing |
| 1:30.4 | with their cash? I don't know about fancy people, but I can tell you what my clients are doing |
| 1:35.1 | with their cash. Balances are actually still pretty high. If you look like across our entire |
| 1:40.0 | platform, something around 20% of assets is actually still sitting in cash. Some of my larger clients that's even greater than that. And I think that just reflects the desire for many people to add to risk assets in some kind of pullback. We just haven't had a prolonged pullback. We've had volatility, but it hasn't been very long lasting. So I expect as we move through the summer, maybe if we get a few more bumps, you'll see some of that move into the market. And then I think as we move towards the back half of the year, I think people |
| 2:04.2 | are just hoping that we get through all this turmoil in the Middle East and some of these headlines. The problem is, you know, when it feels good, that's generally not the best time to invest. So you probably should be sticking a toe in now. How concern are your clients about inflation? |
... |
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