Bloomberg Surveillance Bloomberg Surveillance TV: February 18th, 2026
22 snips
Feb 18, 2026 
Alicia Levine, BNY Wealth strategist focused on asset allocation and EM opportunities. Mitchell Green, Lead Edge Capital founder who watches AI CapEx, data-center risk and China tech moves. Keith Lerner, Truist CIO specializing in sector rotation and market technicals. They debate tech’s re-rating, AI CapEx frenzy and data-center power limits, sector rotation into cyclicals and defensives, and emerging market allocation themes.
AI Snips
Chapters
Transcript
Episode notes
Bifurcated Market And Rotation
- Markets are bifurcated: a few sectors up double digits while others lag, leaving the S&P roughly flat year-to-date.
- Investors are rotating into less-AI-disrupted areas and cyclicals seeking stability and catch-up returns.
Tech Valuations Have Reset
- Tech valuations have meaningfully reset from a PE of ~32 to ~24, compressing its premium versus the market.
- Despite the pullback, strong earnings revisions argue tech still deserves the benefit of the doubt for a potential rebound.
Zoom Out And Diversify
- Zoom out and focus on fundamentals, earnings trends, and diversification across geographies and asset classes.
- Avoid overconcentration in the S&P 500 and rebalance into small- and mid-caps and international markets.