Bloomberg Surveillance Bloomberg Surveillance TV: October 10th, 2025
4 snips
Oct 10, 2025 Paul Christopher, Head Global Market Strategist at Wells Fargo, shares insights on why AI is a compelling investment and predicts a continued rise in U.S. equities over the next year. He discusses strategic sectors for gaining AI exposure, including utilities and data centers. Congressman French Hill addresses the U.S. government shutdown, urging swift action from the Senate, and highlights the importance of tailored bank regulations to boost lending. Together, they dissect pivotal market movements and the implications for economic stability.
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China Drives EM Equities
- Emerging market equities are driven primarily by China rather than idiosyncratic stories like Argentina.
- China's market performance remains the key tailwind for EM equity rallies.
Central Banks Are Fueling Gold
- Central banks accelerated gold buying after 2022 and remain major demand drivers.
- Gold's rally reflects central bank accumulation, constrained supply, and unease about the global monetary order.
FX Reserves Moved Toward Gold
- FX reserve allocations shifted toward gold versus U.S. Treasuries late last year by Barclays' estimates.
- That shift signals central banks' preference for tangible assets amid monetary unease.