Market Resiliency and the June CPI
Bloomberg Surveillance
Bloomberg
4 • 1.1K Ratings
🗓️ 15 July 2025
⏱️ 38 minutes
🧾️ Download transcript
Summary
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 15th, 2025
Featuring:
1) Constance Hunter, Chief Economist at EIU, and Greg Boutle, Head of US Equity & Derivative Strategy at BNP Paribas, react to CPI and discuss their market and economic outlooks. Stocks advanced in early trading after Nvidia secured US assurances to resume sales of some artificial intelligence chips to China.
2) Alison Williams, Senior Analyst at Bloomberg Intelligence, wraps this morning's bank earnings. America’s biggest banks are heading into earnings season with tailwinds from trading and lending as they benefit from market volatility and steady borrowing costs. JPMorgan, Wells Fargo, and Citigroup report today.
3) Huw van Steenis, Vice Chair at Oliver Wyman, joins to talk about how private credit is reshaping portfolios. It comes off the heels of a recent Bloomberg report showing family offices, representing around $3.1 trillion globally, are seeking new sources of returns as private equity distributions slow. According to the 2025 BlackRock Family Office Survey, a third of respondents wanted to increase their allocations to private credit, the highest of any asset class.
4) Jan Szilagyi, CEO of Reflexivity (formerly Toggle AI), talks about AI growth amid Nvidia's rally and what his company's doing to use AI to help investors. Nvidia plans to resume sales of its H20 AI chip in China after securing Washington's assurances that such shipments would get approved. The move is seen as a "massive win" for Nvidia's Chief Executive Officer Jensen Huang, and is also viewed positively by Vey-Sern Ling, managing director at Union Bancaire Privee, who says it is "obviously positive" for Nvidia, the AI semiconductor supply chain, and China tech platforms.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on the plunging dollar leaving American travelers with less buying power this summer and a Bloomberg report on Starbucks corporate managers working remotely having to pack their bags and relocate in a year.
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Transcript
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| 0:00.0 | A warming planet, complex geopolitics and fierce competition means business operations are under more scrutiny than ever before. |
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| 0:32.1 | Bloomberg Audio Studios |
| 0:34.2 | Podcasts Radio News. |
| 0:37.1 | Music Radio Studios. Podcasts, Radio, News. This is the Bloomberg Surveillance Podcast. |
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| 0:57.0 | She's more important than the Secretary of Treasury. |
| 1:02.0 | Constance Hunter joins now from EIU. |
| 1:05.0 | Constance, you take your inflation guesstimate to two decimal points. |
| 1:10.0 | Can you do that? Can we actually guess to two |
| 1:13.8 | decimal points on a change in inflation? Well, you bring up a really great point, Tom, and especially |
| 1:20.5 | with regards to goods, what we've discovered is that we really don't know the price elasticity |
| 1:27.1 | of demand of a number of these |
| 1:29.7 | goods that are going to be impacted. |
| 1:32.3 | So we're triangulating all sorts of different data sources and really kind of trying to get |
| 1:39.8 | under the hood, but your point is well taken, right? |
| 1:43.3 | What is even the point of going out to two decimal points if you have this level of |
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