Bloomberg Surveillance Reacting to the April US Jobs Report
10 snips
May 8, 2026 
Guest
Kevin Gordon
Guest
Atsi Sheth
Guest
Christina Katmany / Kristina Campman (Invesco)
Guest
John Stoltzfus
Kevin Gordon, Senior Investment Strategist at Charles Schwab, flags a tech payroll vs. stock disconnect and the K-shaped market. Atsi Sheth, Chief Credit Officer at Moody's, outlines credit resilience, default trends and sector winners and losers. Kristina Campman, Senior Portfolio Manager at Invesco, adds a global fixed-income view. John Stoltzfus, Chief Investment Strategist at Oppenheimer, links earnings growth and AI to the rally.
AI Snips
Chapters
Transcript
Episode notes
Labor Market Showing Renewed Resilience
- April's payrolls surprise shows renewed labor market stability after earlier worries.
- Claudia Sahm highlights big upside surprises and a sideways 4.3% unemployment rate as signs of resilience despite light wage growth.
Earnings Powering The Rally Not Broad Revenue
- Strong sector-level earnings are powering market gains more than broad revenue growth.
- John Stoltzfus points to multi-sector earnings strength and tech's large outperformance since the March low as the rally's engine.
Diversify Fixed Income With Front End And FX
- Diversify fixed-income exposure globally and favor front-end rates and FX where yields look attractive.
- Christina Katmany recommends playing rates, FX, and EM local rates while being cautious on credit tightness.