Markets Pricing in Early Trump Policy
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 21 January 2025
⏱️ 35 minutes
🧾️ Download transcript
Summary
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJanuary 21st, 2025
Featuring:
- Skylar Montgomery-Koning, FX Strategist at Barclays, talks about whiplash in FX markets and dollar moves
- Jennifer Lee, Senior Economist at BMO Capital Markets, talks about tariff reversals and how the US and Canadian economies could fare in the face of 25% tariffs on Canada and Mexico
- Lori Calvasina, Chief US Equity Strategist with RBC Capital Markets, joins for an extended discussion on markets and the economy
- Dan Tannebaum, partner at Oliver Wyman, joins from Davos to discuss global security in a second Trump term and priorities of global leaders
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Transcript
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| 0:15.6 | Are you looking for a new podcast about stuff related to money. Well, today's your lucky day. |
| 0:22.2 | I'm Matt Levine. |
| 0:23.2 | And I'm Katie Greifeld. |
| 0:24.7 | And we are the hosts of Money Stuff, The Podcast. |
| 0:28.0 | Every Friday, we dive into the top stories about Wall Street, finance, and other stuff. |
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| 0:36.4 | You can listen to Money Stuff, the podcast on Apple Podcasts, Spotify, or wherever you get your podcasts. |
| 0:45.6 | Bloomberg Audio Studios, Podcasts, Radio News. |
| 0:57.2 | This is the Bl Surveillance Podcast. |
| 1:00.4 | Catch us live weekdays at 7 a.m. Eastern on Apple CarPlay or Android Auto with the Bloomberg Business app. |
| 1:06.8 | Listen on demand wherever you get your podcasts or watch us live on YouTube. |
| 1:11.8 | Foreign Exchange Market is a litmus paper of this system. It's been very important. We saw the whiplash yesterday. We had a great story out in the Bloomberg. Thank you, Ted Mann, Liz Capo McCormick and Eshaday for a really sharp article about the roller coaster, they call it, that we saw in Dollar Dynamics yesterday. |
| 1:30.7 | Right now, we recalibate with Barclays, and there's Skylar Montgomery counting their FX strategists out of the United Kingdom. |
| 1:39.0 | Skyler, good morning. Can Barclays bet resilient and strong dollar, or do you adjust on this Tuesday? |
| 1:48.1 | I don't think we've heard anything in the last couple of days to really adjust our view. |
| 1:52.8 | I think broadly it's accepted that the current environment is dollar positive. We've had such a |
| 1:57.6 | large move that the question we're consistently getting from clients is how |
| 2:01.4 | far can this strength instead? And for us, we wouldn't fade the dollar strength, and particularly |
| 2:05.7 | with reference to euro dollar. The move we've seen, it's not been exclusively driven by tariffs, |
| 2:11.1 | right? It's also been by growth and rate differentials. U.S. growth continues to be stronger |
| 2:15.9 | than its DXY counterparts. And that's meant higher yields in the U.S. than elsewhere. |
... |
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